Reported by The Wall Street Journal, the head of Sony’s games division, Andy House, shot down the rumor first, saying plainly there would be no announcement at the trade show. His boss Kaz Hirai was quick to back him up, saying:
“Andy (House) is absolutely right in that we are not making any announcements at E3… I’ve always said a 10-year life cycle for PS3, and there is no reason to go away from that.”
Source – GamesRadar
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