March 13^th, 2002 (12:00am) - According to reports out of South Korea, SCEI president Ken Kutaragi recently made some grim statements regarding the future of the console gaming industry. Specifically, during a recent interview Kutaragi-san was asked about the future of networking and its association with game consoles. In response, Kutaragi-san said, "If broadband connections capable of delivering 10Mb/s are affixed to game consoles, the industry as we know it will be over. By that time, perhaps 2005 or later, games would be available for download rather than sold in stores." More intriguing however, when asked about the status of development on PlayStation 3, Kutaragi-san responded, "Nothing has been started yet." This flies in the face of reports that PS3 will utilize CELL processor technology being jointly developed by Sony, Toshiba, and IBM.