Sony confirms intention to sell its VAIO brand to JIP
Sony has just delivered the news release confirming that they are going to transfer their VAIO brand PC business to the Tokyo-based investment fund, Japan Industrial Partners, Inc (JIP).
No details were released regarding the monetary value of the deal. There was also no mention of any joint venture or dual ownership of a holding company with JIP for the VAIO PC business.
Yesterday, we shared the report that Sony might be doing something to offload its VAIO brand, however we didn't expect that it would be unveiled so soon.
According to the press release, Sony and JIP will conclude the formal contract by the end of this March.
Sony also announced that they will begin to put increased focus on their smartphone and tablet business after transferring the PC business. Also, they mentioned that regarding TVs, their focus will be on the high-end, value-add end of the business.