In a move that will reshape its presence in the global TV market, Sony recently agreed to transfer operational control of its television and home audio business to China’s TCL through a new joint venture (JV). Under the arrangement, TCL will hold a 51 per cent stake in the new company, with Sony retaining the remaining 49 per cent. The venture is expected to begin operations in April 2027, subject to regulatory approvals and the completion of final agreements.
Sony has said that products will continue to be sold under the Sony and Bravia brands, but the new company will run the business across the value chain, from product development and manufacturing to sales, distribution and customer support. There will be no immediate change for consumers, though over time the shift in control could influence where Sony-branded TVs are made, how they are priced and how product portfolios are shaped.
Under the agreement, Sony will retain ownership of its brand names and contribute intellectual property and technology, including image processing and audio systems developed over years in the premium segment. Bravia will continue as a brand on future products manufactured and sold by the joint venture.
Meanwhile, Sony transfers operational control, including development, manufacturing, sales, logistics and customer support, to the JV, where
TCL will have decision-making authority as the majority owner.
Sony TV business performance: Declining revenue and market share pressures
Sony’s television business has been under pressure for several years from a crowded global market dominated by larger-scale manufacturers. According to recent industry estimates, Sony’s global TV revenue-based market share stood near 4.2 per cent in revenue and around 1.7 per cent in shipment volume prior to the JV announcement, according to a report by global marketing research firm Omdia.
In FY25, Sony’s TV division reported a revenue decline of nearly 9.6 per cent year-on-year, reflecting slower sales and pricing pressure in many markets.
Sony occupied a weaker position in the mass market. In televisions priced at $2,500 and above, Sony ranked third by revenue, accounting for 15.7 per cent of sales, behind Samsung at 53.1 per cent and LG Electronics at 26.1 per cent, Omdia’s report showed.
Sony’s premium strategy is centred on 55-inch, 65-inch and 77-inch OLED models. In the overall OLED segment, it holds the third-largest revenue share at 10.2 per cent, trailing
LG Electronics and
Samsung Electronics. TCL, which does not currently offer OLED televisions, could view this gap as an opening to make a push into the premium category.
TCL’s TV scale: Shipments, Mini-LED lead and rising global market share
Meanwhile, TCL is among the world’s largest television manufacturers. Estimates indicate that TCL shipped around 29 million televisions in 2024, corresponding to a global market share of roughly 14 per cent by volume, making it one of the top TV brands internationally.
According to a report by US-based market research firm Fintool, Chinese manufacturers including TCL and Hisense have recently increased their share of global TV shipments, particularly in larger-screen segments. TCL led global shipments of 85-inch and larger TVs with a 22.1 per cent share in 2024 and held the top share in Mini-LED TV shipments (28.8 per cent).
By contrast, Sony’s TV share has steadily declined from earlier positions in the market, with data from 2024 indicating Sony’s share at around 5.4 per cent of global TV revenue, trailing major competitors like Samsung and TCL.
What the Sony-TCL JV means for TCL: Benefits and operational challenges
The most immediate benefit for TCL is access to Sony’s brand equity in the premium segment. Sony-branded TVs continue to command higher prices and are positioned around picture quality and audio performance rather than value pricing.
By pairing Sony’s image and sound processing with TCL’s manufacturing scale and panel supply, the JV could allow TCL to sell higher-priced products without having to build a premium brand from scratch in every market. Analysts expect that TCL’s existing scale, which is about 14 per cent global share in 2024 shipments, combined with Sony’s brand and technology may strengthen the firm’s distribution and pricing power.
From a financial perspective, TCL’s leadership in large screens and newer display technologies (e.g., Mini-LED) will complement Sony’s strengths in video processing and audio tuning. However, TCL will also assume operational costs and risks associated with consumer electronics manufacturing, a business historically characterised by tight margins and inventory volatility.
Sony vs Panasonic TV strategy: Why Sony is retaining the brand and core tech
In a similar move, Japanese electronics firm Panasonic has, over the years, scaled back or outsourced parts of its TV manufacturing and publicly acknowledged the difficulty of sustaining profitability in the segment. Its approach has largely focused on reducing exposure and, in some markets, exiting volume production.
By that comparison, Sony’s move is more measured. By retaining a significant minority stake and keeping control over brand and core technology, Sony is attempting to stay present in the premium TV market without bearing full operational risk.
 "Sony-TCL TV joint venture: What the Bravia deal means for both firms")
