Sony has long weathered criticism that the games console, which also acts as a Blu-Ray, DVD, CD player and internet portal when connected to a broadband network, is too expensive compared with the rival Microsoft X-Box and Nintendo Wii.
In Australia, the company also revealed that it had done a deal with the ABC to allow the national broadcaster's on-demand online video service iView to be accessible through the PS3.
It has also reached global arrangements with a number of movie studios to have videos on demand available to the console from next year.
"The one thing with the PS3 is we have eliminated the price barrier," Mr Ephraim said.
"We will have iView as a short-cut icon on the PS3 and are working with the ABC to have purpose-made content.
"That also opens the door to other content providers and it is basically going to be internet protocol TV made simple."