Wedbush Morgan analyst Michael Pachter has dismissed suggestions that Sony's executive reshuffle signals the company's exit from the console hardware market as "foolish" and "embarassing".
"I think Kutaragi's promotion signals absolutely nothing about Sony's plans for a PlayStation 4," Pachter told our sister site GamesIndustry.biz.
"It is embarassing that an analyst could reach that conclusion so soon after launch. Sony cannot have made such a decision, and to draw such an inference is foolish."
Pachter's comments come after former SCEA boss Kaz Hirai was announced as the new president of SCEI - a move which, according to Nomura analyst Yuta Sakurai, suggests a shift by Sony away from hardware and towards software.
It's not just Pachter who disagrees - speaking to consumer site Gamespot, SCEA communications boss Dave Karraker said, "Following the launch of the PlayStation 3 just a few weeks ago, and witnessing the huge consumer demand for the product, I think it would be rather short-sighted for anyone to predict there might not be a next generation of PlayStation product."
Pachter went on to say that he was in agreement with another analyst, Hiroshi Kamide, who has stated that he believes Ken Kutaragi will now be responsible for managing relationships with third-parties.
"I have said repeatedly that this is the last console 'cycle' as we know them, and that future hardware would contain new features and functions, but not change the architecture until we are ready for virtual reality or holographic gaming," Pachter concluded.