TCL to buy majority stake in Sony’s home entertainment

[HONG KONG/TOKYO] TCL Electronics Holdings agreed to buy a majority stake in Sony Group’s global home entertainment business as the Chinese company seeks to expand overseas. TCL will pay 75.4 billion yen (S$610 million) for a 51 per cent stake in a new joint venture that will hold Sony’s home entertainment business including Bravia televisions, according to a statement on Tuesday (Mar 31), which confirmed an earlier Bloomberg News report. Sony will retain a 49 per cent stake in the business, which also include research and development, design, manufacturing and product sales, as well as home audio equipment. As part...