Following a number of PS4 rumours that suggested Sony would launch the next-generation console during 2012, the CEO of Sony Computer Entertainment has suggested the PS4 release date will not be coming anytime soon.

The PS4 release rumour mill kicked into overdrive last month after Ubisoft President Yves Guillemot suggested Sony would need to release the next-generation PlayStation in 2012 in order to compete with the recently unveiled Nintendo Wii U. However, CEO of Sony Computer Entertainment Jim Ryan has refuted such claims at GamesCom this week.

"All I'm focussed on right now is making the most of PS3,” Ryan said in an interview with games blog CVG. "We've over 50 million PS2's installed across our PAL territory, and as you've heard yesterday we're up to 22 [million] on PS3, so there is a long way to go. That's all we need to focus on for now."

One way in which Sony is hoping to increase sales of the current PS3 is through dramatic price cuts. Announced during its GamesCom conference Sony revealed the UK PS3 price is to see more than £50 shaved off with the console to be made available for just £199.

Does the PS3 still have life in its ageing legs or is the PlayStation 4 drastically needed already? Let us know what you think via the T3 Twitter and Facebook feeds.

Via: CVG