With reports of Microsoft planning to launch the successor to the Xbox 360, there has been speculation that Sony would try to rush out the successor to its trademark gaming console PlayStation3.
But Sony Europe's president Andrew House dismissed the rumors and reaffirmed the company’s claim of a decade long run for its existing console. According to Andrew House, Sony is confident that the PlayStation 3 is powerful enough to remain relevant for years to come, Metro reports.
On the other hand, Sony hasn’t denied that it is actively developing its next generation console as was previously confirmed by the company’s chief financial officer, Masuro Kato. According to Kato, Sony is already working on the development of its new generation console named PS4 but also emphasized that he expects the PS3 to last for 10 years
PS3 sales continue to provide a great deal of revenue for Sony, and Sony certainly doesn't want to release its new console while the PlayStation 3 is still a profitable product, though a ten year run does seem to be a stretch.
Sony's PS4 and Microsoft's Xbox 720 are not the only next generation consoles in the works. Nintendo has already previewed the new version of the Wii, called the Wii U, and it is planning to release the console some time next year.