Sony announced Thursday it will delay sales of its PlayStation 4 gaming console in China due to "various factors,"

Business Insider reports the Japanese electronics company had applied for 30 game licenses and arranged for the PS4 4 to go on sale in China starting Jan. 11.

A "company source in China" revealed , however, that unresolved negotiations between Sony and Chinese authorities are partly why the PS4 won't go on sale Sunday as planned, according to Reuters.

China lifted its 14-year ban on foreign gaming systems and video games last year but set strict rules about what will be accepted. All video games must be approved by the "culture department in charge," which refers to the local Shanghai government culture department.

It is important for Sony to secure the Chinese gaming market as it attempts to compensate for weaker divisions, such as mobile. China is the world's third-largest gaming market, and in 2014, generated revenues reaching $15 billion, according to Business Insider.

The country's strict censorship rules make it difficult for video games to be sold. China prohibits video games that contain violence, crime, drug use, obscenities, in-game gambling, or instigate racial hatred, promote cults or superstition, or in any way violates Chinese law. This makes it nearly impossible for the most popular U.S. games like "Grand Theft Auto" and "Call of Duty" to be sold.

Sony has invested a great deal to stake its claim in the China gaming market. CNET reports Sony signed up 70 third-party software developers, including 26 in China, to create games for the country's market. The company has partnered with China's Shanghai Oriental Pearl Culture Development to form two joint ventures: Sony Computer Entertainment in Shanghai, for hardware distribution, and Oriental Pearl Culture Development, to handle software licensing.

In China, the PS4 would have a retail price around $467. Although higher than the PS4 price in the U.S., it is less expensive than Microsoft's Xbox One, which retails for $595 in China.

A new launch date for the PS4 has not been announced.

Microsoft acted quickly to release its Xbox One in September 2014 and sells only 10 video games in the country, currently.

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