Sony CEO Howard Stringer has revealed some of the company's future plans for the PSP and PS3, describing the next-gen console as "a monumental technical advance."
In a speech delivered at the CEATEC electronics show in Japan, Stringer said that PSP owners "Will soon be able to deploy the device's built-in Wi-Fi to watch video from home entertainment terminals, anytime, anywhere in the world."
He also confirmed that larger capacity memory sticks will enable users to record television programmes using digital video recorders and then watch them back on the PSP. Some DVR models already come equipped with memory stick slots.
Moving on to the PlayStation 3, Stringer described the console as "Our biggest breakthrough yet."
"The Cell microprocessor really sets the PS3 apart... Offering twice the processing power of Xbox 360. It's simply amazing in a home entertainment device."
"The PS3 is only the beginning, but it is a monumental technical advance."
Stringer conceded that Sony had "fallen short" when it came to performing strongly in the competitive electronics market - the company is expecting its first operating loss in more than a decade this financial year due to losses in its TV sector and costly restructuring expenses.
"We must free ourselves from the old ways that bind us," he said.
"We must restructure to improve efficiency, improve our focus and provide the necessary resources to create unique, competitive advantages."
Stringer added that his vision for Sony is "One that is streamlined in terms of product lines, manufacturing and efficiency... We will become a more nimble, responsive and creative company with a better relationship with the public."