Sony Claims PS3 Failure Rate of Less Than 1 Percent

PS3 failure rates are "around .02 percent" according to Sony Computer Entertainment Europe founder, Chris Deering while speaking at the Edinburgh Interactive Festival on Tuesday.

If accurate, that puts PS3 failure rates well below the industry average of three to five percent.

By comparison, some reports pin Xbox 360 failure rates as high as one third of all consoles in existence. As a result, Microsoft extended the Xbox 360 warranty from one to three years in July citing "an unacceptable number of repairs" without disclosing specific failure rates.

Nintendo has yet to reveal any failure rates for the Wii.