China: Updated forecast for the Chinese video games industry: mostly sunny, with a high chance of clouds 
Last Updated: 12 July 2014 
Article by Mark Schaub and David Hong 
King & Wood Mallesons 

Key Point: 

Domestic Challengers 

The Big Three gaming console manufacturers are not the only ones trying to cash in on the new opportunities for video game consoles in China. Like many multinationals are finding to their chagrin, Chinese companies are moving from making products for others to making their own and often these products provider equivalent or better functionality at a much better price point. ZTE, the Chinese telecommunications equipment supplier, formed a joint venture with The9, a Chinese video game company, to release a new micro-console called the FunBox. The Android console, along with a controller, is selling for only RMB 698 ($112) which is significantly less than the $399 price tags for the Xbox One and PlayStation 4 in the United States. 

Huawei has also announced plans to enter the video game market. The company recently unveiled its new console, the Tron, and intends to begin sales in China in the second quarter of this year. While the company has not finalized a price, Huawei believes the Tron will likely cost less than RMB 1,000 ($160). 

Chinese electronics maker TCL is also planning its own video game console for the Chinese market, but a launch date and sale price have yet to be released. 

While ZTE, Huawei, and TCL do not yet have the same global reputation for video gaming like Microsoft, Sony, or Nintendo, these domestic companies may prove to be very successful with more budget-minded consumers, especially those accustomed to the cheaper options of PC/mobile gaming and pirated consoles. 

http://www.mondaq.com/x/326... 

Playstation TV is set to launch with a price point of around $102.00 USD 

Andrew House, CEO of Sony Computer Entertainment, explains that Sony hopes to use the Vita TV to penetrate the Chinese gaming market, where video game consoles have previously been prohibited. The Vita TV was released in five other Southeast Asian countries and the special region of Hong Kong on January 16, 2014. At E3 2014, the system was announced for North America and Europe, under the name PlayStation TV, for release in Q3 2014. 

TAKE NOTE: 

Shanghai Oriental Pearl Culture Development Co., Ltd. and Sony (China) Co., Ltd. have agreed to jointly set up two companies to be responsible for hardware and software products and services. 

The two companies that were formed for this very specific investment were Shanghai Oriental Pearl Solatube Culture Development Co., Ltd., a 51% percent investment from Shanghai Oriental Pearl (about 5.1 million RMB) and a 49% percent investment from Sony China (about 4.9 million RMB). Sony is also investing 70% percent capital into the second company (about 3,066 million RMB), which is being named Sony Computer Entertainment (Shanghai) Co., Ltd., while Shanghai Oriental Pearl is chipping in the remaining 30% percent. 

In total, the investments from Sony Corp. into everything totals to roughly 1318.9 million RMB, which equates about $211.5 million dollars. The entire operation is going to enlist the talents of local game developers within China so that they can get an edge with exclusive content on Playstation platforms within the country, and to help promote growth within the Chinese video game industry.

With THIS:

its already in Hong Kong, and in many asian regions already, the fact that this was Quoted:

"Andrew House, CEO of Sony Computer Entertainment, explains that Sony hopes to use the Vita TV to penetrate the Chinese gaming market, where video game consoles have previously been prohibited. The Vita TV was released in five other Southeast Asian countries and the special region of Hong Kong on January 16, 2014. At E3 2014, the system was announced for North America and Europe, under the name PlayStation TV, for release in Q3 2014. "

And they are getting set to release the PS4 i would imagine they could even beat the xboxone and xbox360 release in china, both Microsoft and Sony both released intent a month apart, but Sony has had a very invested presence into  Shanghai since early 1985

http://www.sony.net/pressroom/operat/eastasia/china.pdf

I would say they are more than likely ready for the market there, its the red tape as always , but with the $210+ million investment  with production deal and software deal i think they have a really good chance there. esp. with a very consumer price friendly point of entry.