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NanoTech Entertainment, Inc. Message Board

  • harit_rc harit_rc Jan 28, 2013 8:40 AM Flag

    Sony, Nintendo

    Sony and Nintendo have seen a sharp increase of share prices these days after China Daily claims that China will lift 12-year ban on game consoles.

    Sony reaches its highest stock price since April, 2012, at 1404 yen on Monday, up 8.8 percent while Nintendo hit new high since August, 2011, at 10,070 yen, up 8.2 percent.

    China has banned game consoles since 2000 concerning the physical and mental development of teenagers. However, the Cultural Ministry is discussing with other committees on the cancellation of the restriction recently, an unnamed source is quoted by China Daily as saying.

    The news looks good for investors, which indicates a brand new market is emerging for video games manufacturers, said Mitsuo Shimizu, the anaylst of Japanese Investment Corporation Iwai Cosmo.

    According to China Daily, the prohibition of game consoles was jointly issued by seven departments, therefore the cancellation needs the approval of all of them. Spokesman of the Cultual Ministry refused to comment. Sony has not sold any Play Station game consoles in China and Nintendo has yet to respond.

    Game consoles in China are now all sold under the counter while tablet computers like iPad and iPhone or smartphones can be sold legally.

0.0033+0.0001(+3.12%)Feb 5 3:59 PMEST