With a population that far exceeds 1 billion, it shouldn't come as much of a surprise that China is the largest gaming market in the world, and is expected to be a $29 billion industry this year.
Gamasutra reported from IHS Market Technology that while consoles were illegal in China until 2014, mobile and PC gaming is massive in the country with 51% of the market. Xbox One and PS4 sales have only hit 500,000 - but will continue to grow, as they've only been on the market for just over 3 years now.
IHS said in the report: "This slow adoption is a reflection of having to compete with the entrenched PC and mobile games markets and existing grey market console imports from Hong Kong and Japan, which are often cheaper than the official versions of the consoles. Sony has experienced a mild increase in sales momentum in 2017 and will be further helped by the recent launch of the PS4 Pro, which has been priced aggressively to compete with grey market imports. The company also benefits from a well-established brand and its entrenched console lead versus Xbox in most Asian territories".
Last updated: Apr 6, 2020 at 04:46 pm CDT
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