Sony signs definitive agreement with TCL for Bravia TVs

Back in January, Sony and TCL announced the intention to form a joint venture in TVs and home audio equipment, of which TCL would hold a controlling 51% stake. Today, the two companies have signed a definitive agreement for this strategic partnership. Under this legally binding agreement, Sony will establish a wholly owned subsidiary to assume its home entertainment business, and TCL will subscribe to a portion of this company's shares, with TCL holding 51% and Sony holding 49% of the shares. The new company will succeed Sony's home entertainment business, including product...

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