Game consoles were once banned in China. Now Chinese developers want a slice of the $49 billion pie

0 2
Gamers visit Sony's PlayStation booth at the annual China Joy gaming conference in Shanghai on July 30, 2021.Arjun Kharpal | CNBCGUANGZHOU, China — For 14 years, gaming consoles from the likes of Sony, Microsoft and Nintendo were banned in China.The ban was finally lifted in 2014.While these consoles were available on the so-called "grey market" — places that would sell imported devices for a high price — the prohibition led to the surge in popularity of PC and mobile games.Chinese developers, like giants Tencent and NetEase, poured their efforts into making hit titles for those platforms during the more than a decade-long ban.Now things are changing. China's tech giants, alongside a new breed of gaming developers, are looking to tap the growth of videogame consoles in China and target players overseas who have grown up with those devices.For the global market, the console is huge — roughly like 30% revenue. But in China, it's only 1% and so there's a huge potential op
Subscribe or log in to read the rest of this content.
Leave A Reply

Your email address will not be published.