Sony CEO says Wii isn't succeeding at the expense of the PlayStation 3.

Speaking to Welt, Sony Chairman and CEO Howard Stringer has stated that Nintendo's success with the Wii has not come at the expense of Sony's PlayStation 3 console.

"... the Wii is not succeeding at our expense - it is not hurting us. We decided years ago to build a game console that offers much greater functionality. The PlayStation 3 has an enormous processor; it is gradually emerging as the central server in our users' homes," said Stringer.

Stringer was also questioned on the huge cost of developing the PlayStation 3 and whether it is possible for the platform holder to make its money back.

"Not for as long as I live," laughed Stringer. "It will certainly take some time. The traditional business model for the PlayStation envisaged us making a loss with the hardware in the early years until the production costs had decreased to a point that enabled us to break even. In the meantime, we earn money with the games."

He added: "We are currently at the stage in which we need to get a grip on the production costs. That takes time. We are already making more money with the games than we are losing with the hardware."

Gamers hoping to pick up a bargain priced PS3 this Christmas also appear to be out of luck, with Stringer noting that he doesn't think we'll see a console price drop before Santa comes down your chimney.