Now that China’s 14-year ban on console sales has been lifted, Sony is looking to capitalize by bringing Playstation to the Chinese market.
As reported by BusinessWeek, Sony will form two ventures with state-owned Shanghai Oriental Pearl Group, primarily known for its hotels, broadcasting, and the Oriental Pearl Tower. The company will begin manufacturing and selling Playstation consoles with Sony collecting 70 percent and 49 percent in each venture, respectively. Sony was not specific regarding exactly which consoles will be sold.
This news should come as no surprise, seeing as Microsoft recently announced that it would be begin selling Xbox Ones in China this coming September in an effort to expand markets and drive potential sales. Most likely looking to maintain its lead in sales for this console generation, Sony is following suit. Despite the financial success of the Playstation 4 to date, the Tokyo-based electronics giant has failed to turn a profit in six of the past seven years.
China banned the sale of video game consoles in 2000 due to fears that video game violence could be harmful to the well-being of children. The ban was lifted this year but a lengthy list of censorship rules remains in place.