China Temporarily Lifts Ban on Games Consoles
Written Wednesday, January 08, 2014 By Richard WalkerView author's profile
A ban on the sale of games consoles has been temporarily lifted by the Chinese government, opening the floodgates for Microsoft, Sony and Nintendo into a hugely lucrative market. The ban came into effect in 2000, after the Chinese government decided that game consoles have a negative effect on the mental health of younglings.
The ban didn't prevent a grey market from forming, continuing sales of consoles in China. That said, PCs provide the primary source of gaming, responsible for a $13 billion (£8 billion) market. Foreign companies can now make consoles within Shanghai's free trade zone and sell them in China following inspection by cultural departments, the Chinese government confirmed in a statement. It's not known how long the temporary lift on the ban will last.
"We recognise that China is a promising market. We will continuously study the possibility, but there is no concrete plan at this stage," Sony said in response to the news. Microsoft, Sony and Nintendo will now be able to take advantage of a huge market, which will no doubt prompt their respective share prices to soar.