EA: 'PS3 and 360 investment was a mistake'

Electronic Arts CEO John Riccitiello has admitted that the company made a "strategic mistake" by investing in the PS3 and Xbox 360 consoles ahead of the Nintendo Wii.

Riccitiello told the San Jose Mercury News that, although the firm is now established on Wii, he regrets not spotting its potential early on.

“We made the wrong call there [investing in the PlayStation 3 and Xbox 360], which made this transition harder than it would otherwise be," he said.

"But now we're catching up and I think we're fine. We've got some incredibly innovative Wii titles [and] incredibly innovative DS titles coming. And so I think that issue's sort of behind us.”

The games chief added that PS3 and Xbox 360 are still "meaningful", stating: "[What’s] unusual in this cycle is there's a second and third place that is meaningful, against which we can build a profitable business. That's a good and positive thing.”