Sony nearing $1 billion deal to sell 51% of its home entertainment business to Chinese rival TCL

Sony is close to finalizing the sale of a 51% stake in its home entertainment and television business to TCL, the Chinese electronics manufacturer, in a deal valued at approximately $1 billion, Bloomberg reported. The move marks a significant retreat for Sony from the consumer electronics business that defined the company for decades. Sony has been shifting its focus toward entertainment content, gaming, and image sensors. TCL is already one of the world's largest television manufacturers. Acquiring Sony's TV operations would give TCL access to the Sony brand and its premium display technology.