Sony's Tretton: PS3 Up '300 Percent' Since Price Cut

Sony's recent PlayStation 3 price cut is having a dramatic effect on the console's sales performance, says Sony Computer Entertainment America CEO Jack Tretton, who said the system's sales have increased threefold. "We are up about 300 percent over where we were pre-price drop. We are up significantly versus last year," the executive told Reuters, referring to the three-week period immediately following the price adjustment. Tretton expects the company's console to put on a strong showing this holiday season, despite the "difficult economy," going so far as to warn of potential PlayStation 3 shortages. A GameSpot report includes claims from GameStop retailers that Sony has been conservative with its recent PS3 shipments, suggesting the manufacturer may be holding back supply for the expected higher volumes of coming months. Also released today was a Briefing.com report, which cites analysis from Caris & Co. that projects reduced earnings from Microsoft's Entertainment & Devices Division as a direct result of "recent aggressive moves" by competitor Sony.