Sony and TCL are close to reaching a deal for the latter to buy the former’s TV division. The deal is said to be worth $1 billion, Bloomberg reports.
Sony and TCL announced the deal in January. At the time, Sony said that the announcement “reflects an initial memorandum of understanding” and that “further details are still under discussion”.
Now it seems the deal is progressing. It could all be finalised as soon as this month, according to Bloomberg.
This is the first inkling we have had of how much the deal could be worth. The $1 billion figure comes from “people familiar with the matter” who didn’t want to be named because of the sensitive nature of the information.
Talks are said to be “at an advanced stage” but no final decisions have yet been made.
The deal sets up a joint venture for Sony’s home entertainment division, including its Bravia TV brand. It hands 51 per cent of the venture to TCL, with Sony retaining the remaining 49 per cent.
Under the venture, TVs will still be produced carrying the Sony and TCL names, but will use TCL’s screen technology. It is planned to take effect from April 2027.
TCL has been on a run of good form lately, picking up What Hi-Fi? Awards in three of the TV categories at the end of last year. Sony won an Award for the Bravia 8 II.
We have approached Sony and TCL for comment.
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