At a European PlayStation event in London Kaz Hirai of Sony spoke about the PS3's early struggles, noting "There were teething problems... and customers were a little underwhelmed by early games." He also expressed optimism that the PS3 is poised for similar success within the next 2-3 years in North America.
Speaking about Sony's future plans for the console, he said the company intends to focus on promoting it as a "multi-faceted interactive entertainment system," a strategy they've had since the PS3's launch, but have often been criticized for in light of Blu-ray's failure to capture a significant share of the home video market. However, as the success of Microsoft's Xbox Live online store has shown, there are other markets available to be exploited.
To date their efforts to compete in the online content arena have been disappointing to say the least, but if Sony manages to leverage the extensive music and movie catalogs available from their home video and music divisions they could certainly position the PS3 as an all-in-one home entertainment juggernaut.