Sony has to be celebrating somewhere, as news has reached us that the company is no longer losing money on the PlayStation 3 hardware. This news comes after multiple console revisions over the past four years to cut the cost of the console.

Sources claim to us that Sony isn’t making much on each PlayStation 3 that they sell, but at least they are not losing major money on every console they sell. It is unknown if the company believes that it can recoup all of the money that it has lost on the console over time, but we have to admit that this is a tall order, because quite honestly, Sony has lost a lot of money.

While many have predicted the death of the PlayStation 3, some whisper to us that Sony would like to push at least a few more years out of the PS3 since it will help offset the losses that the company has experienced on the entire PlayStation 3 project. Mumblings from the shadow dwellers in the know say that Sony has learned a lot about what they plan to do with the next evolution of hardware for the PlayStation 4; and they will not be repeating the losses that they encountered with the PS3.

Most analysts seem to agree right now that it is likely that both Sony and Microsoft are targeting at least the holiday season of 2012 before they even think about the release of a new console. It is understandable that both companies have to milk as much life out of both consoles as they can.

As for Nintendo, it seems that they have little interest in the release of a high-performance console to compete with Sony and Microsoft, but some analysts consider that this might be a smoke screen and that the company is actually working on something to be released sooner.

In the meantime, both Sony and Microsoft hope that motion control technology and 3D will be enough to extend the life of the current console system.