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Sony is preparing to launch the PlayStation 4 in China after it formed a joint-venture that officially brings its PlayStation business to the country, Engadget reports. One month after Microsoft announced plans to bring the Xbox One in China, so Sony is partnering with Shanghai Oriental Pearl Culture Development (OPCD) to make its move. The Xbox One is due to launch on Chinese soil in September, but Sony hasn’t revealed the date for the PlayStation 4 — given the fierce rivalry, Sony may well try and beat its rival to the punch. Both companies are taking advantage of last year’s lifting of a…

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