Tellingly (given Sony's recent troubles), PlayStation 3 barely got a mention in Reeves' address, with the SCEE big cheese preferring to concentrate on discussing why PAL regions were left waiting for lengthy periods for new hardware to arrive. The later launches, argued Reeves, weren't necessarily bad for consumers.
By launching months after Japan, any hardware bugs and issues could be resolved before Europe and Australia received the product in question, something that was reflected in the low return rate of Sony hardware in Europe (beneath 2% according to Reeves). The return rate in Japan, noted the SCEE president, was considerably higher. A later launch also meant the prospect of a broader range of games at launch, with Reeves pointing out the PSP would see 30 games at launch, and upto 25 UMD movies.
Other factors as to why PAL regions receive hardware late were brought up in the speech, with the localisation of consoles for Europe and Australia, the language barriers, and the differing hardware standards and safety compliance requirements all playing a part.
From there, Reeves went on to confirm that Sony would be pursuing individuals and companies on internet auction site eBay who are selling imported PlayStation Portables, though described the problem as 'really small beer'.

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