"What we've said many times before and we're confident about is we launched a device that is very, very powerful," he said, "that has a whole range of possibilities and that's at the very least a ten-year life-cycle."
The Playstation 3 was launched in November 2006, and is approaching its fifth year, but Sony have always promoted long life-cycles for its hardware:
"I know I'm guilty of repeating myself but I think it's always worth pointing out we're still selling PlayStation 2 in its millions around the world, 11 years after it was launched."
The Playstation 2 was launched in 2000, and has yet to be officially discontinued. The original Playstation was released in 1994/95, and was officially discontinued in 2006.
So far, Sony has shown a pattern of introducing new hardware roughly halfway through the life-cycle of the old one, so if a new console is going to come, at the earliest it will come within the next year or two.