JV may see XBox on the mainland
0 Comment(s)
Print
E-mail Shanghai Daily, September 24, 2013
Microsoft Corp and Shanghai-based BesTV will invest US$79 million jointly to set up a joint venture, which may lead to Microsoft's XBox being introduced into the Chinese mainland, Shanghai Daily learned Monday.
The new venture, E-Home Entertainment Development Co, will be based in the Shanghai Free Trade Zone.
BesTV owns 51 percent of the venture while Microsoft takes a 49 percent stake, according to a statement to the Shanghai Stock Exchange.
The joint venture will design, distribute and sell game and related home entertainment devices, BesTV said in the statement.
Presently all game consoles, including Microsoft's XBox and Sony's PlayStation, are not allowed to be sold in the domestic market. The joint venture is expected to change that. Overseas firms have to find local partners to introduce game consoles into the domestic market, analysts said. Both sides declined to comment on the XBox issue.
BesTV, a new media subsidiary of SMG, has over 18 million IPTV users in 20 cities nationwide.
Go to Forum >>0 Comment(s)