Plans for Toy Story 3 have been scrapped.

Pixar and Disney animation say they won't be going ahead with another film.

According to Moviehole.net a source said: "They said that sequels should only be made if there is a really great story that demands it, and should be the domain of those who created the original film."

The film would've seen Buzz Lightyear being recalled to Taiwan after a series of malfunctions. Learning of a product wide recall, all the toys in Andy's room, under Woody's leadership, head to Taiwan to save Buzz.

Source: Press Release