He later explained that software sales were very important to the company, more important so than the price of the hardware.
"Yes, absolutely, and I think it's the games for Nintendo," he said. "I think whatever price they're at, I think it's the games that have really, really driven it.
"We started off at the beginning of the year with GT5 Prologue, then we went to GTA IV, then Metal Gear Solid. There'll be LittleBigPlanet, and then we move onto PES and FIFA and all those.
"We're on rails, and I think that those games are going to drive it," he finished.
Earlier in the day SCEE confirmed the pricing of the new 160GB PS3 model in the UK which will sell for GBP 339.99 when it goes on sale October 31.