After signing a nonbinding agreement in January to spin off its TV business, today Sony officially announced that TCL will pay approximately 75.4 billion yen (over $473 million) for a 51 percent stake in a new joint venture called Bravia Inc., with Sony holding the remaining 49 percent.
The new wholly owned subsidiary will assume Sony's home entertainment business that covers the research and development, design, manufacturing, and support for various devices. These include Bravia televisions, other flat panel displays, projectors, home audio gear, and home theater systems.
Bravia Inc., which will be headquartered in Sony's Osaki office in …
