After the Hong Kong market close on January 20, TCL Electronics (01070.HK) announced it has signed a memorandum of understanding with Sony Corporation to establish a joint venture that will take over Sony’s home entertainment business. The new company will handle the full‑chain operation of television, home audio, and related products, including development, design, manufacturing, sales, logistics, and customer service. TCL Electronics will hold 51% of the joint venture, with Sony taking 49%, and the two parties will also pursue licensing cooperation covering patents, technology, and brands.
Under the agreement, Sony has granted an exclusivity period until March 31, 2026, during which it will not negotiate similar deals with third parties. The companies aim to finalize a definitive agreement by the end of March. If completed, the joint venture is expected to begin operations in April 2027. This move represents a key step in TCL Electronics’ strategy of “globalization and premiumization,” aimed at further strengthening its international competitiveness.
On January 18, TCL Electronics issued a positive profit alert for 2025, forecasting adjusted net profit attributable to shareholders of HK$2.33–2.57 billion (approx. RMB 2.08–2.3 billion), representing year‑on‑year growth of 45% to 60%. The strong performance is driven by global business expansion and improving profitability, with its large‑size display business maintaining high market share, premium product sales rising steadily, and internet and innovative businesses developing steadily.
At the product level, Mini LED TVs have become a core growth driver. In the first three quarters of 2025, TCL’s global TV shipments reached 21.08 million units, up 5.3% year‑over‑year. Among these, Mini LED TV shipments totaled 2.24 million units, surging 153.3% year‑over‑year, directly contributing to an 8.7% increase in TV sales revenue. International performance was particularly strong: overseas TV shipments grew 7.9% year‑over‑year, with 65‑inch and larger models up 44.6% and 75‑inch and larger models up 61.8%, while Mini LED TV shipments outside China soared 235.4%.
In North America, TCL also achieved solid results: average selling prices for TVs rose over 15.0% year‑over‑year in the first three quarters of 2025, shipments of 65‑inch and larger models increased 29.1%, 75‑inch and larger models grew 34.1%, and Mini LED TV shipments jumped 384.5%, raising their share to 8.7%. At this year’s CES, TCL launched its flagship SQD‑Mini LED TV series, the Q10M Pro and Q10M, starting at RMB 9,999, continuing to deepen its overseas premium push.
TCL has previously established partnerships in semiconductor display with companies such as Samsung and LG. The collaboration with Sony will combine TCL’s display technology and supply‑chain strengths with Sony’s brand and audio‑video technology expertise, creating complementary advantages.
ICgoodFind : The TCL‑Sony alliance reshapes the home‑entertainment landscape, enabling TCL to accelerate its premiumization through brand and technology synergies, leading to shifts in industry competition.
