On January 20, 2026, TCL ELECTRONICS (01070) and Sony simultaneously announced that they have signed a Memorandum of Understanding (MoU). According to statistics from Sigmaintell, if the joint venture is successfully established and commences operations in 2027, the combined market share of TCL and Sony is expected to reach 16.7%, potentially surpassing Samsung Electronics' 16.2% to claim the top spot globally. This would fundamentally reshape the global TV brand competitive landscape that has persisted for decades and mark the first time a Chinese brand challenges for the global TV market crown. The main points, based on press releases from both TCL ELECTRONICS and Sony, are as follows: 1. A joint venture may be established to take over Sony's Home Entertainment & Sound business, conducting integrated global operations—from product development, design, and manufacturing to sales, logistics, and customer service—for products including televisions and home audio systems. The joint venture would be 51% owned by TCL ELECTRONICS and 49% by Sony. 2. Arrangements for future licensing of patents, technologies, and brands between the joint venture and Sony, and between the joint venture and TCL ELECTRONICS. 3. Subject to contract finalization and obtaining necessary regulatory approvals, the joint venture is expected to begin operations in April 2027. Sigmaintell believes that if the joint venture proceeds smoothly and TCL ELECTRONICS gains control of Sony's TV business, this merger would be one of the few major acquisitions among top-tier global TV brands in the past two decades, exerting a comprehensive and profound impact on the global TV market.
The global TV market brand competition landscape is set for a reshuffle, with the combined market share of TCL and Sony potentially claiming the global top spot by 2027. Sony has been deeply entrenched in the global TV market for over 60 years, possessing formidable technological R&D capabilities and strong global brand influence, particularly maintaining a leading edge in product technology. However, over the past decade, its global shipment volume has shown a year-on-year decline due to weakening cost competitiveness and reduced supply chain integration capabilities. According to Sigmaintell statistics, Sony's global TV shipment volume was 4.1 million units in 2025, a decrease of 13.3% year-on-year. In recent years, TCL has focused on a dual strategy of expanding both domestic and overseas markets, actively pursuing global market and product positioning. Simultaneously, bolstered by advantages in its upstream panel supply chain, TCL has delivered impressive performance in the global TV market, with shipment volume and market share maintaining strong growth. Sigmaintell data shows that TCL's global TV shipment volume reached 30.7 million units in 2025, achieving counter-trend growth of 6.4% year-on-year. It is expected to continue an aggressive expansion strategy globally, driving sustained growth in its own-brand TV shipments. According to Sigmaintell statistics, if the joint venture is established and operates successfully in 2027, the combined market share of TCL and Sony is expected to reach 16.7%, potentially surpassing Samsung Electronics' 16.2% to become number one globally. This would fundamentally rewrite the competitive landscape of global TV brands held for decades and mark the first time a Chinese brand contends for the global TV market championship. Note: TCL's 2027 shipment volume projections include Sony's global shipments.
The addition of the Sony brand and its high-end technology is expected to enhance TCL's competitiveness in the high-end product segment, significantly boosting its sales revenue and brand strength. The Sony brand has long been synonymous with "high-end technology" in the global TV market, with strengths concentrated in brand premium, picture quality calibration, audio-visual ecosystems, and gaming compatibility. TCL's core advantages lie in its globally leading vertical supply chain integration, global production capacity, and marketing and channel layout. The deep integration of "brand + technology + manufacturing" between the two parties is expected to enhance TCL's competitiveness in the high-end TV market, further solidifying TCL ELECTRONICS' global position and boosting its overall sales revenue. 1. The joint venture will retain Sony and BRAVIA high-end brands, bringing significant high-end brand premium to TCL. 2. It will enrich the high-end product line, complementing it with OLED TVs. While TCL has focused on LCD TVs and demonstrated good performance in high-end products centered on "large size + MiniLED" technology in recent years, Sony pursues both OLED and high-end LCD routes. Beyond the impact of brand premium, this will further complement TCL's high-end product portfolio. 3. The infusion of picture quality calibration and chip technology may drive further improvements in TCL TV picture quality and accelerate its AI layout. Sony's XR chip is a core technology, possessing strong picture quality calibration and AI analysis capabilities, establishing a dual barrier of "technology + brand" for Sony TVs and solidifying its high-end market share. Among leading TV brands, TCL's enhanced picture quality chips have been a relative weakness. With the support of Sony's picture quality calibration and chip technology, there is potential to advance TCL TV picture quality and accelerate its AI deployment.
Sony's panel supply chain is likely to tilt towards TCL CSOT, making a reorganization of the LCD TV panel supply chain highly probable. Examining the TV panel supply chains of Sony and TCL, in 2025, nearly 60% of TCL's TV panels were sourced from TCL CSOT, with the TCL TV brand and TCL CSOT's panel business being mutually reinforcing. Sony's TV panel supply primarily relies on BOE, supplemented by TCL CSOT. With the strategic cooperation between TCL and Sony, it is anticipated that Sony's panel resources may further shift towards TCL CSOT, effectively joining the CSOT camp. This will inevitably prompt other TV brands to reassess and potentially realign their partnerships with panel suppliers. Sigmaintell believes the global LCD TV panel supply chain could face another reorganization within the next two years. For Sony, as TV shipment volumes shrink and hardware product profitability continues to weaken, industrial restructuring with a leading brand represents a viable option to maintain the competitiveness of the "Sony" brand. It is also a significant step in its strategy to "de-emphasize hardware and strengthen ecosystems." Leveraging TCL's supply chain and market advantages can help improve Sony TV cost competitiveness and increase its global market share. However, prior to the reorganization's completion, Sony may face short-term volatility, including, but not limited to, adjustments in personnel and organizational structure, and fluctuations in market and supply chain strategies. Currently, this merger is only at the MoU stage, and numerous uncertainties remain. How successfully the joint venture achieves multi-brand operational synergy and whether it ultimately delivers a synergistic win-win effect greater than the sum of its parts will require continued observation.
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