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Metallicube said:
I'm still baffled that everyone seems to just assume the PS3 will last ten years. PS2 even barely made it 10 years and that's the most successful console of all time. PS3 on the other hand is selling far worse than the PS2 did. Remember, it needs to last FIVE years before it can last 10.

Sony can repeat their "10 year plan" for PS3 until they are blue in the face, but the market is what decides the lifespan of a console, not so much the console maker.

 

The Ps2 only sold so well BECAUSE it was on the market for 10 years, most of which had a huge price drop (that the PS3 will eventually see around its 5 year mark). Even if the next console is released around the PS3s 6-7 year mark, I'm sure Sony will keep the PS3 on shelves much like it has the PS2. It will still continue to sell well although not AS well. 

With the current momentum the PS3 has, 5 years won't be a problem. Its 4th and 5th years will still probably push 10 million units.