It’s the end of an era in Japan, as Playstation 3 production will be stopping in the country after nine years of success. Sony has also implied that production of the console will also be stopping on the other side of the Pacific, so the company can focus more on the Playstation 4.
The Playstation 3 came out roughly at the same time as the Xbox 360, but was a reverse of the situation happening right now; the Xbox 360 had gotten a headstart in the market, and with a lack of real exclusive games it resulted in Sony losing money with each Playstation 3 sold until 2010, when it hit its stride.
Playstation 3 production actually hobbled the Playstation 4 originally, being such a popular console that many people were loath to replace it with the Playstation 4. However, it appears that now Sony will be joining Microsoft in their efforts to force gamers to move on to the next generation.
This has been happening for the past several years, with developers slowly stripping title updates and features from legacy consoles in order to force gamers to move on in the face of wanting to keep their older consoles. This also means that Playstation 3 consoles are going to get a lot more valuable, similar to original Playstations and Playstation 2s now.
Exactly when Playstation 3 production will stop remains to be seen, but it will likely end soon as one of the last bits of the last console generation are thrown away to make way for the future in order to let the newer consoles take over. Sony will likely also notify its Western fans when they stop production of the Playstation 3 in its Western divisions, though it may take a while before they get to that stage.
In the meantime, if you still own a Playstation 3, cherish it, and maybe play your favorite PS3 game on it one more time, for old times’s sake.