Sony Computer Entertainment America boss, Jack Tretton has announced that they have no plans to release a new console in the short term.

In an interview with Forbes Tretton explained that the PlayStation 3 was just hitting its stride and that it still has a long way to run.

He said: "PlayStation 3 is really just hitting its stride. And technologically, I don't think it's possible to provide any advancement beyond what we have."

Tretton added: "What we've seen from the is trying to add features that already exist in PlayStation 3. We invested heavily in that, we rolled a very heavy rock up a steep hill, through the launch period. But now I think that all pays off, and we've got a long run way behind it. So, I wouldn't look for any discussion of a next generation PlayStation for quite some time."

Rumour has it that rivals already have kits in place for their next generation of home console at and although both companies officially deny the leaked information.

By Ewan Aiton