Sony boss Kaz Hirai has indicated in a series of slides from an internal corporate strategy meeting at Sony that the company is planning to update the PlayStation 3 graphics chip later this year.
The plan is, according to Kotaku, for Sony to update the PlayStation 3's graphics chip to a new 65nm model by Q4 this year.
The new graphics chip will be smaller, cooler and cheaper to produce than the current model, so Sony is understandably keen to make the move as soon as possible as the PlayStation 3 is still seen by many as prohibitively expensive compared to the Nintendo Wii and Microsoft Xbox 360.
Kaz Hirai also indicated in the meeting that Sony is looking to reduce the total number of components in the PlayStation 3, as well as introduce some more new and exciting titles for the console - but specifics are a little lacking.
Hopefully the move to a new graphics processor will go smoother than similar moves made by Microsoft to update to smaller chips, which resulted in months of speculation, rumour and disappointment before the new models arrived