Mobile devices are creating new gaming platforms, but they don't pose a threat to the high-end consoles, the head of Sony's gaming business, Jack Tretton, told CNBC's "Squawk on the Street" on Tuesday.
Tretton said that there's a renaissance in gaming with 1 billion people gaming worldwide. However, "I still think the console is the ultimate gaming experience and it opens the ecosystem with smartphones and tablets," he said, adding that people tend to migrate up the food chain of electronic games to high-end consoles.
"There's never been a better time to be in the gaming business," the executive said.
That should mean new units like the Sony's new PlayStation 4 and Microsoft's Xbox One will continue to have a place in consumers' living rooms.