TCL is officially taking over Sony’s TV business in new partnership

Sony and TCL announced a strategic partnership to form a joint venture named Bravia Inc.

TCL will pay over 75 billion yen to acquire a 51% majority stake while Sony keeps 49%.

Bravia Inc. will be headquartered in Sony’s Tokyo office and is expected to begin operations next April.

The new company will handle global product development, manufacturing, sales, logistics, and customer service for TVs.