Paul Iuzzolino 09/30/13
Microsoft has just announced that it has gone into a partnership with Shanghai Media giant BesTV to develop a new gaming device that will stream entertainment services in China. According to Polygon, a note was posted on the Shanghai Stock Exchange. In this note, both of the companies gave details of the “family games and related services" initiative--E-Home Entertainment Development.1 This project is being supported by a $237 million investment. Some Chinese media reports say that this partnership will ultimately result in a new console. This console will be developed on the basis of Xbox technology and will be called Bestpad. In China, BesTV is the number one leading internet and television provider. BesTV also deals with Smart TVs. China also recently decided to end a 13-year console ban; now game consoles can be sold in China as long as they are developing in Shanghai's new free-trade zone and approved by "culture-related authorities."2 This new venture by Microsoft and BesTV is expected to be registered in the newly established free-trade zone.3 A Microsoft spokesperson recently told Polygon that this is just the fist step in Microsoft and BesTV's partnership, and Microsoft looks forward to bringing new entertainment offerings to China.