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Bullshit. He actually means

'We need to beat X360'

Which doesn't translate into weak at all.

“History has shown us that once you get to £199 you hit lift off. We can do some serious business and this kick-starts that. Getting to £199 was a defining moment for the PSone and PS2 – this will be no different.“

Except the PS1 and PS2 were dominant consoles, the PS3 isn't, and won't beat the 360 this holiday.