As Australians await next month's release of the PlayStation 3 (PS3), the makers of the game console believe the technology inside the box will remain relevant for at least a decade. Sony Computer Entertainment (SCE) confirmed the Australian release date and retail price of the machine for the product.
The PS3 hits Australian shelves on March 23 at a recommended retail price of $999.95.
SCE's Australasian managing director Michael Ephraim believes the unit represents a significant leap forward for both home entertainment and hard-core gamers.
"The home owner grew up with games so they are also now taking on digital pictures, digital music and internet and emailing so the timing for PlayStation 3 is just right," Mr Ephraim said.
"The consumers have evolved and are starting to get their heads around digital content."
The console is the last of three new generation platforms to launch in Australia in the past year.
Early last year, Microsoft released its Xbox 360 and Nintendo put out its less expensive Wii model in November.
In addition to enhanced graphics and processing power, the PS3 will be able to play new Blu-ray high definition DVDs.
The PS3 also features improved connectivity and will allow users to surf the web and download add-ons for games.
Mr Ephraim says unlike previous PlayStation versions, the PS3 was a more open system that would allow for easier future upgrades, helping increase the unit's longevity in the rapidly changing tech world.
"I don't think we will maximise that capability of enhancements and added applications for a decade," he said.
"This device could possibly last longer."
Around one million devices are expected to ship globally for PAL television formats next month but Sony remains tight-lipped as to how many units Australian retailers can expect to receive.
It also has ruled out releasing the cheaper 20 gigabyte hard drive version of the PS3 in Australia, opting to retail the higher end 60GB version only.
Microsoft expects the Xbox 360's lower price and 12-month head start in the Australian market will give it a significant advantage over the PS3.
"It's an awfully big price tag for what they showcased," a Microsoft spokeswoman said.
"You'll have the hard core gamers who'll go out there and purchase a PS3 console but then you get into the real consumer domain.
"Whether or not they're going to pay $1,000 for a console ... remains to be seen."
About a week after the PS3 launch, Microsoft will sell add-ons for its Xbox 360 that allow it to play the HD DVD format, a rival high definition standard to Blu-ray.