Quick – sell 1.35bn consoles before the government changes its mind!
A leading news agency is reporting that the world’s most populated country has lifted its sales ban on foreign made games consoles.
Reuters reports that China’s State Council has temporarily lifted the ban” which has until now been in place for 14 years.
The new ruling permits console manufacturers to manufacture consoles within Shanghai’s free trade zone and sell them in mainland China, although companies will need government approval.
The opportunities for Sony, Microsoft and Nintendo are obvious. With a population is excess of 1.35bn people and a growing affluent class, the world’s most populated country is an unprecedented sales opportunity for both high-price new hardware and cheaper retro machines.
And it’s not as if China is averse to a spot of gaming – MCV last week reported that the Chinese games market was worth $13.75bn in 2013, with the lion’s share being claimed by browser-based PC games.
Talk of a potential lifting of China’s console ban has been circulating since last year.