Sony once more defended the high price of the PlayStation 3 console by claiming the PS3 will be good for 10 years:
Beyond the pricing and availability of the PlayStation 3, one of the big pieces of news from this year's E3 was more information about Nintendo's new console, the Wii. There were rumors that the Wii would be priced for less than $250. How did that affect PlayStation 3?
Kaz Hirai: The pricing that we announced for the PlayStation 3 is a price that ultimately offers fantastic value to the consumers. I think that we are offering a very good value for the consumers. We look at our products having a 10-year life cycle, which we've proven with the PlayStation. Therefore, the PlayStation 3 is going to be a console that's going to be with you again for 10 years. We're not going to ask the consumers to suddenly buy another PlayStation console in five years time, and basically have their investment go by the wayside. So for all those reasons, I think at $599 we're offering a very good value to the consumers.