TCL Electronics: Intends to establish a joint venture company with Sony holding a 51% stake.

TCL Electronics announced that the company has signed a non-binding memorandum of intent with Sony Corporation to potentially establish a joint venture company to take over Sony's home entertainment business. The joint venture company will operate globally, integrating operations from product development, design, manufacturing, sales, logistics, and customer service, including products such as televisions and home audio systems. The joint venture company will be owned 51% by this group and 49% by Sony. Both parties will negotiate in good faith to finalize the terms of the agreement as soon as possible within the exclusivity period.