Jack Tretton, CEO and President of Sony Computer Entertainment America talks about the PS3 in March's edition of Electronic Gaming Monthly magazine and believes that Sony have a better business model than Microsoft.

"I think we've got a better machine PlayStation 3, I think we've got a better business model, and I think we're going to win in the long term. I'm extremely pleased that we're selling more PS2 units than they are [360 units]. That's something that quite frankly surprised me," he told the monthly gaming magazine.

"But while early indicators are not completely irrelevant, you can't completely ignore them, and I'd be a little concerned if I were them. On the other hand, what concerns me is if the Xbox 360 is being rejected, are the consumers on board with [next-generation] technology and is there enough [demand] there."

The recent price cut of the PS2 in the US has caused a surge in PS2 sales, Sony claim that since the release of the Xbox 360, they have shifted an average of 473,000 units a month; in December, Sony sold 1.5 million PS2s. In comparison, Microsoft claim to be selling approximately 246,000 consoles each month in the US.