Speaking at the Playstation business briefing in Tokyo, Kutaragi also confirmed that Sony intends to ship six million units by the end of the year. Final dev kits are scheduled to arrive in June, coinciding with the beginning of manufacturing.
A host of other details were also unveiled. PS3 will be supported with a free online service from day one, and the console will come bundled with a 60GB hard drive. PS3 will also be 100 per cent compatible with all PS2 and PSOne titles.
In other news, several PSP announcements were also made, including a PSOne digital download service, allowing users to download a selection of PSOne back-catalogue titles, an Eye Toy attachment, video chat software and a GPS receiver.
A full report on Sony's announcements will feature in next week's MCV.