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SONY GROUP Surges on Strategic Partnership with TCL in Home Entertainment
SONY GROUP CORPORATION <6758> shares rose sharply. Following the close of trading on the 31st, the company announced that its subsidiary Sony had entered into a definitive agreement with China's TCL Electronics Holdings for a strategic partnership in the home entertainment sector, prompting buying interest.
Under the partnership, Sony will establish a wholly-owned subsidiary to inherit its home entertainment business, after which TCL will acquire a portion of the new company's shares, resulting in a joint venture with TCL holding a 51% stake and Sony holding 49%. The new company will be named "BRAVIA" and will inherit Sony's home entertainment business, including development, design, manufacturing, sales, logistics, and customer service for consumer televisions (BRAVIA), commercial flat panel displays, commercial LED displays, projectors, home theater systems, and component audio products.
Source: MINKABU PRESS
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