After a global price cut Sony’s PlayStation 3 is selling strong, with a 400 per cent increase in sales putting it in contention of the ‘best-selling console of the year’ title.

The Australian market scored a price cut on the PS3 console in late August, with the console dropping a dramatic $150 in price. Soon after, sales sky rocketed by 400 per cent according to a SMH report.

Read: Watch out Xbox: Sony PlayStation 3 Price Drop

Even after the price drop sales maintained its mojo, with numbers up 250 per cent. Microsoft’s rival console, the Xbox 360, was not expected to offer a price cut, but the price drop impinged on the Xbox’s appeal and forced the company’s hand.

3 weeks later Microsoft announced a $50 price drop on its own console. A week later, Sony’s PS3 was still outselling Microsoft’s offering by 50 per cent.

“If you look at the period now since (the PS3) price drop, we’ve outsold them by about 3 to 1,” said the Managing Director of Sony Computer Entertainment Australia, Michael Ephraim.

Ephraim believes the numbers could have been even better, had Sony managed stock to suit the high consumer demand.

“I might add that we have been stock constrained on the 160 Gig (PS3 model) so we think the numbers could be even better. Our retail partner’s stockholdings in several key retailers have been out of stock in 160.

“We’re definitely coming back into stock in a big way for our Christmas push and I feel the PlayStation format has now definitely taken centre stage. The awareness of what PS3 does is very satisfying. Now store staff and consumers are starting to use PS3 in all of its glory with digital downloads, Music Unlimited, the movie service, catch-up TV.”

When launched, the fundamental difference between Sony’s PS3 and Microsoft’s Xbox360 was the type of gaming disc used. Microsoft’s dual layer HD DVD was up against Sony’s Blue-ray format, which has since become the norm in households. Ephraim believes the PS3’d integrated Blue-ray player will help keep the console selling through Christmas.

“With 80 per cent of homes now having HD TVs, they understand what Blu-ray brings to that equation. We think that is going to hold us in good stead right through Christmas.”

Highly anticipated games will also fuel console sales, including Battlefield 3 (available today) and the new instalment from the best-selling series, Modern Warfare 3.