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 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.