Sony has supposedly reached a deal to sell its PlayStation 4 in China just a month after Microsoft confirmed it will make its Xbox One available this fall.
Sony will be working with a company called Shanghai Oriental Pearl Culture Development (OPCD), just like Microsoft, according to a company statement.
The new partnership between OPCD and Sony will lead to the creation of two new companies.
The first will be called Sony Computer Entertainment (Shanghai), which will most likely handle PlayStation services, sales, distribution, and licensing of PlayStation software.
"The two companies formed will be Shanghai Oriental Pearl Solatube Culture Development Co., Ltd., the capital of which will be formed by a 51 percent investment from Shanghai Oriental Pearl (RMB 5.1 million) and a 49 percent investment from Sony China (RMB 4.9 million)," reads a statement released by the company this week. "Sony will invest 70 percent of the capital of the second company (RMB 3,066 million), which will be named Sony Computer Entertainment ( Shanghai ) Co., Ltd., while Shanghai Oriental Pearl will pinch in the remaining 30 percent (RMB 1,314 million)."
Sony China will reportedly own 70 percent of the Sony Computer Entertainment, and 49 percent of a new company dubbed Shanghai Oriental Pearl Sony Computer Entertainment Culture Development.
The second new company has been called Shanghai Oriental Pearl Sony Computer Entertainment Culture Development, which will be responsible for dealing with sales and manufacturing of the PS4 console.
Sony has not year officially announced the news.
No time frame has been given as to when the company will start selling its PS4 in China. Microsoft will begin selling its Xbox One in September, so Sony will most likely aim for a similar time.
Sony sold over 7 million PS4 videogame consoles as of April 6. The $399 console went on sale back on Nov. 29, 2013 in the U.S., Latin America, and Western Europe.
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