Bill Gates: Microsoft has no plans for PSP competitor

In an interview with CNET News.com, Microsoft chairman Bill Gates said his company doesn't have plans for a "dedicated product" in the portable video game console market.

"Speaking from Microsoft broadly, we like that Sony is off worrying about the PSP (PlayStation Portable) and thinking about that while we are worried about the TV-based console, the next generation of Xbox that we are moving forward on," Gates said.

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