Hirai forecasts 10 year life cycle for PlayStation 3

SCEA president Kaz Hirai has predicted that the PlayStation 3's life cycle will last for 10 years, hinting that the console's successor is more than five years away at least.

In an interview with CNET, Hirai said: "We look at our products having a 10 year life cycle, which we've proven with the PlayStation. Therefore, the PlayStation 3 is going to be a console that's going to be with you again for 10 years.

"We're not going to ask the consumers to suddenly buy another PlayStation console in five years' time and basically have their investment go by the wayside," he added.

When asked to clarify whether that meant gamers will have to wait longer than five years for the PS4, Hirai replied: "I can't speculate on when we might come out with a new console after PlayStation 3. But my message is that once you become a family in the PlayStation family of products, you become a family member."

The PlayStation 3 is due to go on sale this November, priced at 599 Euro for the 60GB model or 499 Euro for the 20GB version. Sony has been criticised for setting such a high price point but, speaking in the same interview. Hirai reiterated the company's belief that the PS3 "ultimately offers fantastic value to the consumers".

"I don't think price is the only determining factor when consumers make a choice in looking at their console purchase decisions," he concluded.