PlayStation 2 still dominating PS3, Xbox 360

Since its inception in late 2000 Sony's PlayStation 2 has sold a reported 115 million units worldwide making it the best selling console in history. And given its affordable price and large library of games, it shows no signs of slowing.

"We encourage third parties to continue development for PS2. If they bring a PS3 version out, they can bring a PS2 version out as well," said Sony's David Reeves in an interview with Reuters. "There is a lot of money still."

Indeed there is as PS2 sales continue to impress. The last-gen console has outsold Sony's new flagship, the PlayStation 3, every month since the latter first launched this past October. By comparison, Microsoft's Xbox 360 has only outsold the PS2 twice during its 21 month life. The PS2 has even outsold the popular Wii on several occasions, though the Nintendo console outperforms the PS2 more often than not.

"What happened last time with PS1 is that they left a lot of money on the table by making the transition too quickly," Reeves added. As was the case with the first PlayStation, new PS2 games are expected for another two to three years.

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