Nintendo president Satoru Iwata has said he welcomes Sony and Microsoft's impending entries into the motion control space

Speaking to The Times, Iwata said he was happy that motion control is now becoming an industry standard, but suggested that Sony and Microsoft are a bit late to the table.

"To tell the truth, I expected them to come up with stuff like this last year," he said. "So in my mind they're later than expected."

"We are happy that it is now becoming an industry standard. However, we still have no idea about when their products will be available, or how much they will cost, or what sort of software they will be used with."

Iwata added that Nintendo "will not be standing still" over the next year, and that the company "looks forward" to engaging in the new competition presented by Project Natal and Sony's motion technology.