Multimedia conglomerate Sony has announced that it will wind down one of its longest-running business ventures, one that even predates its iconic PlayStation game consoles. Despite the publisher's phenomenal position in the world of video games with the PlayStation brand, Sony has also had a strong presence in other sectors of the media and entertainment landscape since it was founded in 1946. In the earliest stages of its history, Sony gained notoriety for various forms of electronics, including the TR-55 radio and the CV-2000 video tape player.
The media giant continued its growth in the 1980s and 1990s, acquiring Columbia Records and Columbia Pictures and merging them into Sony Music Group and Sony Pictures Entertainment, respectively. As well as stepping into the worlds of music, film and television, the conglomerate burst into the world of gaming with the launch of the PlayStation in 1994, creating a frenzy that would help form the best-selling console brand worldwide. Its dominance hasn't stopped there, as Sony acquired CrunchyRoll in 2021 and merged it with its pre-existing Funimation service as the conglomerate looks to become a household name in the anime world.
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Sony's TV brand will be handed over to TCL
Sony has announced a new partnership with Chinese electronics company TCL and will spin off its television business into a new venture. Under this deal, TCL will own 51% of the new TV company, while Sony will own 49%, just below the threshold for a majority stake. The two are expected to finalize all agreements by March, and after the prototypical legal approvals, the new company is expected to begin operations starting in April 2027.
Even amid the new joint venture, TCL is expected to continue using the Sony and Bravia brands on its upcoming products. Even as Sony steps away from the day-to-day manufacturing of televisions, TCL promises to continue to utilize Sony's “high-quality picture and sound technology.” TCL will combine this with its “advanced display technology”, while leveraging its global strength to continue to drive displays on a worldwide scale.
If this deal clears all legal hurdles, it will spell the end of Sony's status as a major heavyweight in one of its longest-running business ventures. Sony first established itself in the television landscape with the creation of the TV8-301 in 1959, the first ever all-transistor television screen. Its landmark Trinitron brand, one of the first commercial television systems, sold over 100 million units and was an important step forward for color television.
Since the 2010s, however, Sony has ventured away from several parts of the electronics business, notably ending production of its own Blu-ray discs last year, in an effort to establish a greater focus on exploiting its intellectual properties in film and anime. While the rest of the TV industry has struggled, TCL has been competing with brands like LG in the TV market by creating more competitive displays. The joint venture creates a situation where Sony can focus on the media they produce, and TCL can use Sony's brand and devices to gain an even better position against its competitors.
