I found this article on Gamesindustry.biz..... 

http://www.gamesindustry.biz/articles/ps3-to-be-dominant-in-3-5-years-says-reeves

'Outgoing Sony Europe president David Reeves has said that the PlayStation 3 still has a long way to go before it can overtake Microsoft's Xbox 360 on the market, with the exec predicting it could take up to five more years for the console to become the market leader.'

5 years is a very long time in the console world, I think sony are sticking to their 10 year plan.  Good on them

Yeah, and I wasn't supposed to be able to find a PS3 on the shelves. Where's my $1500?!???! Lets just wait and see.

Are they supposed to say their system will fail? Nope.

At least they've given up on overtaking the Wii...

maybe its financial years, so he probably 2015.

so even less reason to give up a precious shit.

3-5 years... So 2012 to 2015? God, pocket netbooks would probably have more performance than the PS3 by then!

I don't really care about how well the PS3 sells, and I don't care if it is number one or not in the next five years. Were I hope he is right, is in saying that we will still be looking at PS3 as the lead console for Sony. As an owner of all three current gen consoles, I want to see each system put out as much content as possible. Last gen ended when all three consoles had miles of room ahead of them, and it is sad that we had to move on, but both Nintendo, and Microsoft had to do something to stir the pot. This gen all of the competitors are in a good spot, and the reality of a 10 year plus cycle for these consoles, is something that the industry should be embracing.

I am tierd of little graphical upgrades, and I don't care about half ass motion controls. The next gen is not going to be anything but another consumer raping, sheep hearding, half ass atempt if it happens any time within the next 2 to 3 years, and if that happens, the gaming industry can go to hell.

5 years- he does realize the PS4 and 720 will be out by then, right?

Little graphical updates? I think the last gen was a huge upgrade over the previous one. I agree that the next upgrade might not be as big, but there is plenty to improve about this gen.

ROFLOL...these comments are funny...so it's going to take over the market ffrom the 360, eventhough M$ is probably launching a new console in 2012 timeframe...and that's an accomplishment? Dunno about most, But I'm jumping onto the new Xbox when launched to play Halo 4, and if it has full B/C...what exactly is Reeves bragging about wrt to ps3 still out like the ps2? It's going to be sell less games, like the ps2 with over 100 million sold is doing now.