China Lifts Video Game Console Ban as Nintendo Shares Spike
It looks like Super Mario isn’t the only one bouncing around Nintendo headquarters today. China appears to have removed its ban on the sale of video game consoles, which has investors excited about the prospects of Nintendo in the country. China is the third-largest video game market in the world behind the U.S. and Japan according to PricewaterhouseCoopers, so you can’t fault investors for their enthusiasm. Nintendo shares closed up nearly 11% in the Tokyo exchange Wednesday, the highest price the shares have seen in over two years.
Though the decision to remove the ban is part of the Shanghai Free Trade Zone initiative, it could be some time before major game companies like Nintendo, Sony or Microsoft can actually sell products in China, since the requirements for entering the market are still obscured by government negotiations and other bureaucracy.
“The Chinese market has a lot of potential and we would consider selling our consoles if opportunities came up, but there are no concrete plans we can discuss right now,” a Sony spokesman told the Wall Street Journal Wednesday.
Featured image by Corridor Digital