The Xbox One this is not, but reports today point to Microsoft working on a new Chinese console. The American tech giant is partnering with massive Shanghai media company BesTV to launch a new device.
The new console will offer streaming entertainment. Its hardware is based on Xbox technology. The console is rumored to be named the “Bestpad” The companies posted a note today on the Shanghai Stock exchange announcing the partnership. It will be launching with an initial investment of $237 Million.
BesTV offers entertainment services and manufactures and sells electronic products including smart TVs, . It holds Chinese TV rights for major properties like the English Premier League.
American and Japanese game companies have long hoped to gain a foothold in the Chinese market. The government recently lifted a ban on the import and sale of consoles. Microsoft and BesTV will launch the new venture in the newly established free trade zone in Shanghai.