James played Harry Osborn, aka The Green Goblin, in Sam's early noughties trilogy, starring Tobey Maguire and Kirsten Dunst as Peter Parker and Mary Jane Watson. Last year Andrew Garfield and Emma Stone starred in Marc Webb's reboot, and the sequel will see them joined by The Descendents' Shailene Woodley as Mary Jane and In Treatment's Dane DeHaan as Harry.
James told MTV News he had seen the reboot, and wasn't that impressed.
He said: "I mean... they could have strayed a little bit more from the original. It was like, 'Why?' I guess they made a lot of money. Congrats."
James added: "Good for them. Sam and I moved on. We made Oz [The Great and Powerful]."