Better late than never, Sony Corp. SNE is finally set to launch its flagship gaming console PlayStation 4 (‘PS4’) in China on Mar 20. Alongside, the company’s PlayStation Vita systems (‘PS Vita’) will be available for sale from the same day.
This Japanese entertainment and electronics giant has priced PS4 at a launch price of around 2,899 RMB ($470 as of currency rate on Mar 11) and PS Vita at 1,299 RMB ($210 as of currency rate on Mar 11).
What Stopped Sony’s Chinese Expedition?
Sony’s PS4 was originally slated to enter China in early Jan 2015. However, various federal limitations, including the failed negotiations with the China government, hindered the original launch date.
The Chinese government had earlier banned the sale of gaming consoles in 2000, quoting an impending harm to the physical and mental development of children. The ban was finally revoked in 2013.
PS4: A Gamers Delight
Capturing the fancy of the gaming generation with its previous PS series, Sony set the frenzy via the global launch of the PS4 in Nov 2013. Since then, Sony has been fueling its growth momentum riding high on the PS4, which is experiencing the fastest and strongest demand generation in PS hardware history. Most recently, the company disclosed the sale of over 20.2 million units within 16 months of its launch, as of Mar 1, 2015.
To further intensify the gaming experience, Sony last week unveiled the latest prototype of its virtual reality system for PS4, Project Morpheus, at the 2015 Game Developers Conference held in San Francisco (read more: Sony to Release Futuristic Virtual Reality System for PS4).
Going forward, Sony aims to continue the expansion of PS4 system’s games portfolio through various localized game titles that include METAL GEAR SOLID V: THE PHANTOM PAIN, Persona5, STREET FIGHTER, among others. This renowned home video game console is presently available in 123 countries and regions across the world.
In Conclusion
As this leading electronic products manufacturer sets its foot upon Chinese soil, we expect the PS4 demand to catapult in the coming days. With luck on its side, if Sony manages to capture the world’s second-largest economy’s gaming market, the top line of the company will surely receive a boost.
Moreover, with this highly awaited launch, Sony is likely to give Microsoft Corp. MSFT a run for their money, which ventured into China with its Xbox One, last year. For now, we need to wait and watch to see what response the PS4 receives in the country.
Sony currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry include Harman International Industries HAR and Skullcandy SKUL. While Harman sports a Zacks Rank #1 (Strong Buy), Skullcandy carries a Zacks Rank #2 (Buy).
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