Sony’s TV business is being taken over by TCL

If the partnership goes ahead, TCL will have input into the development of future Sony Bravia TV models.

Sony has announced plans to spin off its TV hardware business, shifting it to a new joint venture with TCL. The two companies have signed a nonbinding agreement for Sony's home entertainment business, with TCL set to hold a 51 percent stake in the new venture and Sony holding 49 percent.

With this partnership, TCL is elevating itself into the premium television landscape after innovating with technology over the last few years.