Sony to sell TV plant in Mexico to Taiwan firm

Sony Corp. has agreed to sell its main television factory in North America to a Taiwanese company, the Japanese electronics maker said Tuesday, as it struggles to cut costs and stem massive losses.

Sony said it would sell 90 percent of its stake in Sony Baja California, which is located in Tijuana, Mexico, to Hon Hai Precision Industry. The company said in a news release that the move is not expected to affect its balance sheet, but is part of continuing efforts to cut costs by outsourcing manufacturing.

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