Japan Exits the Living Room: TCL Nears Deal to Acquire Sony's TV Business

Japan exits the living room: TCL nears deal to acquire Sony's TV business

Sony's deal to sell off a majority stake of its television business to rival TCL is reportedly nearing completion. The proposed US$1 billion transaction reflects the long decline of Japan's television giants at the hands of rising Chinese competitors like TCL.

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In what could become the most consequential shake-up in the global television industry in decades, Sony is on the verge of offloading a majority stake in its TV business to Chinese electronics giant TCL in a deal reportedly worth up to $1 billion. Sources close to the negotiations say the agreement is nearing completion, with an announcement expected before the close of the Asian financial year. The move would see TCL take control of manufacturi…

Sony is close to reaching a $1bn deal with TCL for its TV business, sources say

A deal could be signed, sealed and delivered this month