Microsoft Corp. (NASDAQ: MSFT) got the chance to market its Xbox One in the world’s most populous nation, which should be among the best news its game console business has gotten since its latest version was launched last November.
Source: Thinkstock
In a blog post, Yusuf Mehdi, Corporate Vice President of Marketing, Strategy and Business, Xbox wrote:
Today marks a monumental day for Xbox, as together with our partner BesTV New Media Co., we announced we will bring Xbox One to China in September of this year. This is a historic moment in our partnership as we work toward the first official Xbox launch in China. Xbox One will also be the first system of its kind to launch in China.
The culture of games and entertainment is rapidly growing in China, with nearly half a billion people playing games — roughly a third of the country’s population and more than the entire population of North America. The gaming industry saw massive growth in the last year — generating more than $13 billion in 2013, an increase of 38% in the last year alone. Gamers in China have shown they love gaming — mostly on PC, mobile and online — and game developers in China have been delivering innovative games for years. Creators and gamers alike have eagerly awaited a new generation of entertainment experiences in China.
Microsoft could use the help that entering such a huge market will bring it. Sony Corp. (NYSE: SNE), its primary rival in game consoles, announced earlier this month that it had sold 7 million units of its PlayStation 4 since it launched. At about the same time, Microsoft has announced that it shipped 5 million units.
READ MORE: Xbox Sales Top Five Million
The battle for console sales has been contained, for the most part, in the United States, Europe and Japan. As is true with almost any consumer product or retail operation, access to China is the holy grail. The People’s Republic should be the market that makes sales of the Xbox One move above most analyst expectations.
READ MORE: Microsoft Slashes Xbox Price
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
