"Consoles today are 40 per cent of the game industry, so what do we really have?," said the EA boss. "We have a new hardware platform and we're putting out software every 90 days. Our fastest growing platform is the iPad right now and that didn't exist 18 months ago.
"Every 5 years you'd see a new console or platform from everybody at about the same time with about the same or similar upgrades or services. You'd sort of harvest it and then it'd cycle back. We got used to it. It's what seemed normal. But it's not a particularly smart way to run an industry… bulges in technology investment followed by harvest.
"I would argue that there's more to be provided in terms of value for the consumer in micro-transactions and social experiences and driving those better in cross-platform gameplay between a console and a PC and a handheld device and a social network than there is supercharging graphics."
What now for the PS4 or Xbox 720?
EA has already published over 30 major titles for the iPad, getting a good head-start on its competition, with Riccitiello's indicating that there are lots more planned and in development over the coming year.
Nintendo has, of course, already announced a successor the the Wii in the shape of the dual-screened Wii U console.
However, might all of this new focus by major gaming publishers on non-console platforms mean that we won't be seeing an Xbox 720 or a PlayStation 4 anytime soon? We may well have to wait until E3 2012 next June to get a good steer on that million-dollar question.