A few days ago we reported that Sony had commenced development of the next Playstation. We, and the rest of the gaming press were confident of this based on a statement from Sony’s Executive VP and Chief Financial Officer Masaru Kato who said;

“For the home equipment the PS3 still has a product life, but this is a platform business, so for the future platform – when we’ll be introducing what product I cannot discuss that – but our development work is already under way, so the costs are incurred there.”

Today a Sony spokesperson has stated Mr Kato’s comments were taken out of context and was meant to reference their work on the NGP (as our Sam Naylor predicted). This is Sony’s next-generation handheld device that claims to be able to run PS3 graphics in a PSP format, news which is still fantastically interesting, but doesn’t represent their official market-response to Nintendo’s (Project Cafe) Wii 2.

Right now it’s not too fanciful to believe that both Microsoft and Sony are looking at or already developing new architecture for their next console outings and I think the most interesting question to consider is whether Sony progresses with their free to access vision, or in the wake of their recent losses will they take the Microsoft path and monetize their online services.

Stay tuned for RipTen news releases from our E3 News-Hounds who will be live on site with Sony, Playstation and the NGP.