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1. Resistance 3 has very disappointing sales. The FPS market is very competitive.
2. It takes much more money to make a Resistance game than it does to make a Ratchet & Clank game. In fact R&C games are so cheap to make, that they are able to sell the newest release for $20 on Day 1 at retail.
3. Resistance is competing directly with Killzone on PS3. Sony probably doesn't like that. They own both IP so they probably don't want Insomniac making any more.