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Sony is planning to show off the PlayStation 3 to its key worldwide executives at a major internal briefing next week, it has emerged, but the consumer unveiling of the next-gen platform is still not expected until E3 in May.

Nintendo may leave Sony and Microsoft to squabble amongst themselves over who's got the best next-gen console at this year's E3, according to reports.

Nintendo president Satoru Iwata has revealed more details of the next-gen Revolution console, focusing on the company's plans to make online gaming more accessible and overhaul the way controllers are designed.

Nintendo president Satoru Iwata says Revolution development are "already out there" to some degree, although publishers have yet to officially declare their interest in the machine - with several announcing projects for "next-generation consoles" but most of them opting not to identify the individual target machines.

Revolution will have a major, albeit non-interactive presence at E3 and will launch with a major franchise game as well as help launch new franchises, the 2006 launch being mooted worldwide is an assumption, the DS hardware is capable of more than we've seen so far, Nintendo made a mistake not supporting online with GameCube, and Nintendo needs to support both casual and hardcore gamers equally.

You can download Satoru Iwata's keynote in video form from Eurofiles.

Nintendo president Satoru Iwata has admitted that the next-generation Revolution format's unique design could alienate third party publishers, although he hopes that it will instead inspire them.

Nintendo still plans to unveil its next-generation console, codenamed Revolution, at this year's Electronic Entertainment Expo in May, but the company is still considering how best to announce it without giving too much away.

Although Nintendo was keen to keep Nintendo DS at the top of the agenda last week, magnetic executive vice president of sales and marketing Reggie Fils-Aime still found himself making a few comments about "Revolution", the next under-the-TV console from the platform holder, due to be unveiled at E3 2005.

"Our revolution is well underway" was Satoru Iwata's triumphant E3 message today, as the Nintendo chief outlined the company's plan to make its next home console take gaming forward in a new and innovative direction.

In the wake of Sony's confirmation that PlayStation 3 will be shown in some form at E3 next year, Nintendo Europe has reaffirmed that its Revolution console - first mentioned at E3 in May past - will be "discussed" in greater depth at the LA event in 2005 and will be released in a timely fashion to compete with PlayStation 3 and Xbox 2.

A patent granted to Nintendo earlier this month, describing a device that would add hard disc, online and TV functions to a console, has sparked rumours about the company's plans - but is actually related the ill-fated 64DD peripheral.

Another next gen console project emerged today, as news began to filter through that Cambridge-based studio Just Add Monsters is apparently some 18 months into a 'revolutionary' action adventure.

Britsoft stalwart Revolution Software has managed the tricky feat of getting its most recent Broken Sword title on Japanese shelves - the first time the York-based firm has managed to get one of its games into this trickiest of territories.

Sony has helpfully chosen the last day of March to announce the cancellation of a March PlayStation 3 preview event in Japan

A new picture purporting to be of Sony's next-generation PlayStation has been "leaked" onto the Internet, but a number of elements point to the image being an impressive fake rather than a genuine leak.

Several studios in the UK are already working with development hardware for the next-generation PlayStation console, GamesIndustry.biz has learned, as Sony continues quietly rolling out dev kits to select partners ahead of the system's E3 unveiling.

Sony's next-generation home console will be revealed to the world before the E3 show in Los Angeles this May, representatives of the company have confirmed, with rumours strongly hinting at a late March unveiling.

Official details of the Cell microprocessor have been revealed by partners IBM, Sony and Toshiba, with the multi-core architecture set to be capable of processing ten threads on a single chip clocked at over 4GHz.

Graphics card manufacturer NVIDIA has revealed that it is collaborating with Sony on the graphics hardware for PlayStation 3, described as "SCEI's highly anticipated next-generation computer entertainment system" in press literature.

Japanese publisher Koei has announced one of the world's first PlayStation 3 titles, revealing that it is working on a game tie-in for forthcoming samurai film Oni, which is scheduled for release in 2006.

PlayStation 3 will support the DTS Coherent Acoustics surround sound, it seems safe to say, after Digital Theater Systems announced that the format will be a "mandatory audio technology" for the Blu-ray disc medium, which Sony last week confirmed that it plans to use in PlayStation 3 in a read-only format.

Sony Computer Entertainment has officially confirmed that the PlayStation 3 will use the Blu-Ray disc technology, an evolution of the DVD format which provides six times more storage space than conventional DVD discs.

Development work on the next-generation CELL microprocessor is nearly complete, according to Toshiba president Tadashi Okamura, whose company is working on the chip along with partners Sony and IBM.

Sony has revealed that its next-generation games console will use the Blu-Ray disc format, which is an evolution of the current DVD system that is designed to hold five times as much data on a similarly sized disc.

Sony's next-generation console system will be unveiled before the end of this year, it has emerged, with the first generation of development kits for the platform set to ship to developers at the start of 2005.

The Sony PlayStation 3 will be officially unveiled to the public for the first time at E3 2005, Sony Computer Entertainment's CEO Ken Kutaragi confirmed at a Tokyo press conference this morning.

A new report from analyst firm Piper Jaffray is predicting that the growth of the video game industry will slow significantly in the "transition" years of 2005 and 2006, as the arrival of new hardware causes overall sales declines.

An annual report into the games industry published by Wedbrush Morgan Securities has suggested that added media functions in PlayStation 3 could push its launch price up to $500, alienating many consumers in the process.

Wireless networking is set to form a key part of Sony's grand plan for its next generation hardware, this website has learned, with the company's vision of the future banking heavily on the proliferation of high-speed wireless hotspots in the home and in public places.