Sony takes a 49% share in a new venture with TCL

Just came across this on the TCL wiki…..”On 20 January 2026, TCL and Sony entered a joint venture agreement, according to which TCL will hold 51% and Sony 49% of its shares.” Is TCL going up market or is Sony going down market? Either way it has to be interesting for Sony whose current share of the mobile market is only 2-3%.

TCL (very big in the budget to mid priced mobile market), are the 2nd biggest TV & monitor manufacturer in the world. Could be wrong but I have a feeling that this new venture is all about Sony getting themselves back into the mass market rather then sticking with the high end niche they have created for themselves this past 5 years.