Sony CEO Howard Stringer, pictured at left, confessed that the Wii "may be a superior business model" in a recent interview.

"The major difference lies in the fact that Nintendo makes money with the hardware alone," he explained to German newspaper Die Welt.

As for when Sony will recover the $3 billion it spent on the PlayStation 3, Stringer responded with a laugh, "Not for as long as I live."

He then turned serious. "It will certainly take some time. ... We are currently at the stage in which we need to get a grip on the production costs. That takes time," he said. The CEO stressed that the company is now making more money on PlayStation 3 games than it is losing on hardware sales.

Stringer also cast doubt on recent claims that the PlayStation 3 would see price cuts this year. "I think not," he stated when asked if the system would see a price cut before this Christmas.