New consoles of both Microsoft and Nintendo will also be showed off at next year's E3. Nintendo's new console is codenamed 'Revolution'. And Microsoft's new console will be a successor of the Xbox.
Its competitors are aiming to prevent a repeat of the same scenario and are racing to be the first to release the next generation of console.Source: BBC
Sony has now given its clearest indication yet of when its new machine will see the light of day.
At a briefing with developers, suppliers and media in Tokyo, Mr Kutaragi said it was planning to showcase its new console at next year's E3.
"There has been some talk that development is not going well, but we expect to have a playable version at E3," he said.
"We are pushing ahead with that schedule in mind."
He did not say when the console would be released. But the PS2 went on sale in Japan almost a year after it was first unveiled.