The PlayStation 3, for all its glory, is still lagging behind the Xbox 360 in sales. That's not to say it hasn't improved dramatically since introduction. Indeed, the price of the console has dropped several times and game selection is vastly better than it was. Unfortunately, the poor reputation it received during its first year combined with the fact that it still carries a premium over its rivals, means that the PlayStation 3 is taking a long time to catch up.
Just how long will it take to break even? And, once it's there, where does Sony see the PS3 going? David Reeves, the retiring president of Sony Europe, has commented on exactly what Sony's vision is for the pricey console. Apparently, they are prepared to wait three to five years for the PS3 to take the lead in the console market. Reeves believes that the quick catch-up the PS3 went through last year won't slow down, and says the console has enough going for it to last that long.
The time span here is an important consideration. He may be correct, as today the PS2 remains the number one console worldwide – more than ten years after it was released. However, hardware improvements come rapidly, and in 1999 Microsoft was not a competitor. In five years, what will Redmond have up their sleeves in terms of console hardware? Nintendo has also proved that they can turn things around quickly, and I doubt that in five years the PS3 will still be facing down the 360 or the Wii. Is five years too long for the PS3 to catch up?