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The Sony president announced, a month before the PS2 launch, that the next Playstation console would have the specs described below.
Reason:
1) Keep investors happy. Sega did the same thing when they announced that they were working on a Dreamcast 2 console only a month after the console was released.
2) After the PS2 actually launched, what was there for the hardware team to do? Either you fire them (thus having a big problem when the PS3 must be made), or you get them started on a console using imaginery specs of imaginery chips that don't exist!
Sonic
GS cube = Sony, Gamecube = Nintendo see the problem.
GS Cube
Someone gonna be sued