Genshin Impact has been a hit since it was released and Microsoft has not missed how much money it has made. So they are now looking in China for the next big seller. In fact, according to Reuters, Microsoft has hired a team to scout the country among both large and small developers. This is to try and catch up with Sony.
Sony certainly does not own Genshin Impact, but they helped miHoYo in the early development phase and the game is therefore available for PlayStation 4 and 5. And Microsoft now regrets not picking up Genshin, which six months ago pulled in $3 billion on mobile devices, when they were actually in talks with the developers. No deal was struck, however, and Sony was able to step in instead.
"Picking up Genshin Impact made Sony a lot of money," a source told Reuters.