UK-based studio and Heavenly Sword (PS3) developer Ninja Theory is working on an unannounced title for the PlayStation 3 and Xbox 360, GamesIndustry reports.

Contrary to rumors that the developer was working on a sequel to Heavenly Sword, Ninja Theory said that it will continue to conbine game development and film production techniques with a new multiplatform title. The Heavenly Sword property is owned by Sony rather than Ninja Theory, which assures PS3 exclusivity.

The studio also revealed that it is giving serious consideration to the creation of a CGI movie alongside the unannounced upcoming title, banking on relationships built during the development of Heavenly Sword.

"We're certainly targeting a triple-A blockbuster, with two and a half years in production – a big game that builds on our core strengths of story-telling, cinematics and combat," said Ninja Theory co-founder Nina Kristensen. "But we're actually looking at something in addition to that—we're considering opportunities in creating a CGI movie using the game engine alongside the game itself."

Heavenly Sword, which began life as a multiplatform title before being picked up by SCEE, was the first title in a planned trilogy. It is yet unclear whether Ninja Theory or any other developer will carry on with development of the franchise on the PlayStation 3.

There's a Heavenly Sword preview on GameSpot, going hands-on with the latest preview build of this PlayStation 3 hack 'n slash action game.

Over at Pro-G you can find a preview of Heavenly Sword, playing through a near final build of the PlayStation 3-exclusive action game.

Both Joystiq and the official PlayStation blog have Heavenly Sword Q&As up, asking Ninja Theory's Nina Kristensen about this PS3 action game.