Let’s face it, we all love competition and for this very reason, the “console wars” is perhaps the hottest topic when approaching the video game industry.

“Fanboys” align themselves to a particular platform and then argue with others as to why their console of choice is the best. Debates and subjectivity aside, there is really only one way to quantify the success of a particular console, and that’s through sales. While the previous two generations have been dominated by Sony’s PlayStation platforms, the tides have turned with the current crop of systems, and Sony has been forced to settle for third place.

With Nintendo’s Wii tapping into the profitable casual market at a reasonable price, it comes as no surprise that this family friendly console is outselling its competitors by a large margin. On the other side, we have Microsoft and its online focused console, the Xbox 360, which has done quite well with the hard-core audience. Sony took a different approach and built an expensive cutting edge device that hasn’t taken off like some would hope. The high price point and slow start in acquiring a solid library of games has resulted in a setback for the big-name electronics company.

Fortunately for Sony, things may be about to change. It’s clear they’ve been rethinking their strategy for some time, and their move to release the newly redesigned “slim” model of the PS3 could not have come at a better time. With a starting price of only $300 and a refined design, Sony is finally going back to their roots by realizing the importance of staying true to the identity of the PlayStation brand.

The appearance that Sony projects is key. For instance, let’s take the PS3 logo. The original logo, you’ll remember, had a Spider-man styled font and was completely spelled out “PlayStation 3.” Sony’s previous console’s logo was simply the three-letter abbreviation “PS2,” which looked sleek and was easily identifiable with the general public. “PS2” became a household term, and for Sony to revamp its logo and not capitalize on the success of its predecessor was foolish. For their sake, I’m glad they’ve finally made the necessary changes.

The second issue that has plagued Sony’s PS3 from the start has been the lack of quality titles and the loss of exclusives to Microsoft’s console. Two of Sony’s largest third-party franchises including Final Fantasy and Metal Gear have now been lost, as both “Final Fantasy XIII” and “Metal Gear Rising” are planned for release on the 360. This is a huge blow for Sony. If they hope to compete with Microsoft, they’re going to need to build a substantial library of exclusive titles like they did with the PS2. With ambitious titles such as “Heavy Rain” and “Uncharted 2” coming to PS3 owners soon, it looks like they are taking a step in the right direction.

Will Sony make a comeback? At this point in the game it’s hard to say, but what I can say with certainty, is that Sony has a better chance of challenging the Xbox 360 now more than ever. It looks like we’ll just have to wait and see what Sony has in store for its competition in the coming year.