According to a recent report from Reuters, it has been revealed that China Telecom will start selling Microsoft (MSFT)’s Xbox One gaming console through all its sales channels in China from September through an exclusive contract.
Back in April, Microsoft announced that they would launch Xbox One in China in September. At the time, Yusuf Mehdi, corporate VP of Xbox Marketing at Microsoft, wrote about the potential of China’s enormous market.
“The culture of games and entertainment is rapidly growing in China, with nearly half a billion people playing games – roughly a third of the country’s population and more than the entire population of North America”, wrote Mehdi. “The gaming industry saw massive growth in the last year – generating more than $13 billion in 2013, an increase of 38% in the last year alone. Gamers in China have shown they love gaming – mostly on PC, mobile and online – and game developers in China have been delivering innovative games for years. Creators and gamers alike have eagerly awaited a new generation of entertainment experiences in China.
…Launching Xbox One in China is a significant milestone for us and for the industry, and it’s a step forward in our vision to deliver the best games and entertainment experiences to more fans around the world.”
The launch date for the gaming console and price have not yet been decided, a China Telecom spokesman told Reuters by telephone. But what it’s confirmed is that Msoft’s Xbox One will be the first system of its kind to launch in mainland China since the government banned console sales in 2000.
Shares of Microsoft rose fractionally to $44.48 Friday morning, extending their 2014 rally to almost 19%.