EA: Console 'Arms Race' Has Slowed, Relevance of Hardware Updates Has 'Subsided'

Electronic Arts CEO John Riccitiello told investors today that his company is viewing the current console cycle as an "extended" one, and said that the need for racing to new hardware has lessened.

"I think that [console] arms race, while I can never say that it's done, the relevance of doing that faster.. seems to have subsided," said Riccitiello.

Riccitiello noted that while new platforms such as the iPhone are providing reasons for publishers like EA to invest in research and development, he doesn't expect the traditional console cycle to turn over anytime soon.

"Those big changes are not something we're seeing in the immediate term, nor are we expecting it in the immediate term," he added.