No. It's a damn fine console though, and will end up one of the best selling of all time.

PS3 almost bleed Sony dry, so no.

I don't see how you can say that, or how it's more of a loser than Xbox.  Xbox lost about as much as PS3, yet PS3 also was central in Blu-Ray winning.

PS3's ongoing/future sales prospects are just way stronger than Xbox, that is how the sales numbers have been developing in the last 2 years,

and considering Xbox's focus on North America, and that future last-gen sales will mostly happen outside of NA/Japan/Europe, PS3 should finish stronger.

Surely in 2008 the situation was awful, but Sony announced that PS3 stopped losing money on HW sales in Q2 2010, so considering SW sales and royalties too it had started recovering losses earlier. Recovering $3.3billion losses with just HW sales would have been almost impossible, as even a very good profit margin, but on a lower sale price, couldn't have balanced alone heavy losses on previous high sales price and the initial investment too, but considering also SW lifetime sales, probably 65 million consoles with a good attach rate should be enough to eventually break even and even profit (just do the maths, at the end of June 2010 HW sales were at 37M, and SW sales at 276M, at the end of June 2012 HW sales were at 66M and SW sales at 550M, bringing royalties on 3rd parties plus publisher profits on 1st parties and 3rd parties published by Sony itself).
We can already say PS3 won't be as successful as PS2, and it lost a lot of market share compared to it, but in absolute terms it's already the 4th of 5th (some more weeks outselling XB360 needed to tell it's 4th for sure, due to the latest sales data released by MS and Sony about XB360 and PS3) best selling console ever and still growing.

Overall it was a failure.

It all depends on how you look at it.

Nope, huge failure. Only 80 million units sold and likely to get a abysmal 100+ million units sold life-time.

(facepalm) Dumb question..

It depends how you look at it. Coming from the PS2? Definetly. But saying in 2007 PS3 would ever sell 80 million and possibly outsell Wii, people would declare you crazy. Its sales were horrible and the future of the PS3 wasnt sure, it was getting outsold by the 360, wii, ps2 and the gba. I dont doubt the PS3 will ever make its money back, but by staying alive and coming where it is now was a wiser choice than killing the machine in 2007 and incur billions of losses without the possibility of atleast making some of it back, like they do now. PS3 has been profitable since late 2009.

No system is a success if it failed to make money. If MS wanted to, they could give away 360s to everyone on this planet for free, that wouldnt make it successful if theres no profit.

Sony also lost heaps of the Market share to Nintendo and Xbox considering they went from 1st to last with PS2 to PS3.

How dont you see that its a matter of opinion wheter the PS3 was a success or not? You compare it to the Xbox but you totally miss the whole point of being successful. Its not being successful compared to others but to oneself. And tbh the 360 went from 24 to 80m thats not really a failure at all.

The same applies to human beings. IMHO there could be smarter people out there than those who constantly try to compare oneself to others.  "Her wedding was better than mine T.T"    "my house is bigger than his house xD"  "His wife is so hot mine is like Frankenstein OH GOD WHY!" etc  ;)

Sony made the PS2 and compared to that the PS3 is somewhat of a failure.