"The two companies have signed a memorandum of understanding to confirm their intentions to establish a joint venture to grow the home entertainment business in the global market by combining the strengths of both companies. The new company plans to advance its business by leveraging Sony's high-quality picture and audio technology cultivated over the years, brand value and operational expertise including supply chain management, while utilizing TCL's advanced display technology, global scale strength, industrial footprint, end-to-end cost efficiency, and vertical supply chain advantages."
"Sony and TCL have agreed to move forward with discussions and consideration for a strategic partnership in their home entertainment field. We consider the two companies to be nearly equal partners, both Sony and TCL will provide steadfast support for the sustainable growth of the new company, to create innovative products that meet the expectations of customers around the world and pursue further business growth through operational excellence."
Sony and TCL have entered a memorandum of understanding to form a joint venture in the home entertainment field in which TCL will take a 51% stake. The agreement aims to combine Sony's high-quality picture and audio technology, brand value, and operational expertise with TCL's advanced display technology, global scale, industrial footprint, cost efficiency, and vertical supply chain advantages. A full contract is planned by the end of March 2026, with the new company expected to start operations by April 2027. Both companies describe themselves as nearly equal partners and plan to support sustainable growth and product innovation to benefit customers.
Read at ZDNET
Unable to calculate read time
Collection
[
|
...
]