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Will it be a failure? Depends on how short it may fall. I'd say if it sells enough to warrant a PS4, then its not a failure. Considering XBox only sold 24 million, I'd say even if the PS3 only sells...say 30 million it would be a success. If it sells 50 million that would be very good. I think just cause the PS2 sold over 100 million, everyone assumes the PS3 will sell 100 million or more.

Will people call it a failure? yes