Sony will in no way forget about the PlayStation 3, despite the fact its successor the PS4 will launch later this year, Sony Computer Entertainment UK MD Fergal Gara has told

Asked if the announcement of the PS4 will have a negative knock-on effect on future PS3 software and hardware sales, Gara said: "I suppose it's my biggest challenge this year but a great problem to have, which is in no way should we or will we say forget about PS3 because PS4 is coming. It would be inappropriate and arguably the worst year ever to be sending any signals like that because we've got great software already announced and there's even more that will be revealed as the year goes on, so it is going to be a fantastic year for PS3 just when it's at its best ever value price point.

"So we have to keep that story alive, we have to keep that relevant and we've got a new... experience I suppose is probably a better word than a new box, we've got a new concept that redefines the premium top-tier experience in video gaming.

"How the two sit alongside each other is one of the things we need to plan very well as a team because there's absolutely two stories."

PS3 will see the likes of The Last of Us and Beyond: Two Souls heading its way in the coming months, but it remains to be seen if gamers will already be looking ahead to PS4 by the time they hit stores.

Gara was also sure to bring PS Vita into the conversation, highlighting its evolution thanks to PS4.

"And of course, let's not forget the third which is PlayStation Vita, which for me got redefined last night in many, many ways. We used to use the phrase it's a PS3 in your pocket, and now it was very much illustrated last night that it's better than that, it's a PS4 in your pocket. We saw a good demo last night with Knack looking and playing very well on PS Vita, but I personally look forward to seeing how the big, big, big blockbusters are going to look and feel and play via that mechanic. It's a really exciting new feature."

PS4 will be released holiday 2013, but pricing and an exact launch date are still to be confirmed.

Source: interview at PlayStation 4 media event held in New York. Flights and accommodation provided by SCEE.