Sony has announced today that it has signed a “memorandum of understanding” with one of its erstwhile arch rivals, TCL, to set up a new global joint venture set to encompass the entirety of Sony’s home entertainment products business.

However, Sony aims to leverage TCL’s advanced display technology development, global scale, and end-to-end cost efficiencies to expand its global reach and bring its TV, audio and home cinema products to a wider range of consumers – particularly those seeking more affordable options.

Sony and TCL have announced plans to form a new global joint venture in the home entertainment space, marking a major shift in Sony's TV hardware business. The two companies confirmed today that they

Sony has teased an upcoming audio announcement with the promise of a “new form of listening,” offering few details but plenty of intrigue ahead of its scheduled January reveal.

TCL is set to take over Sony's home entertainment business, and some customers are concerned about a lack of choice and lower quality products.