Comment on Sony Sets Up Joint Ventures with Chinese Partner to Release PS Consoles in China by JD Accepts Pre-orders for Xbox One via Tencent’s SNS Networks in China | Kungpao.tv

['Emma Lee', 'More Emma Lee', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] Comments for TechNode 2014-05-26 00:00:00

Through the subsidiaries of both parties, Sony and Shanghai Oriental Pearl Group planned to set up two joint ventures in Shanghai Free Trade Zone. The two joint ventures will be responsible for hardware and software product/service, respectively. The Chinese company will hold a 51% stake, while Sony will hold a 49% stake in the joint venture, according to the statement. Sony will hold a majority stake of 70%, and the rest will be owned by Shanghai Oriental Pearl Group, the statement added. It is worth noting that both Shanghai Oriental Pearl Group and BesTV, Microsoft’s Chinese partner of Xbox One business, belong to Shanghai Media Group, the cultural investment arm of Shanghai TV Station.