PS3 Price Drop Boosts Blu-ray Install Base

Sony has announced that the recent price cut for the PS3, as well as the introduction of the less expensive 40GB model, has tripled sales of the Blu-ray based game console. The result has been a dramatic increase to the Blu-ray install base with over 5 million units sold worldwide since the console launched late last year.

Andrew House, Sony's chief marketing officer commented, "It puts us vastly ahead of where the other format is going to be in terms of an installed base in people's homes by the end of this holiday season."

Prior to the price drop, weekly sales of the console were averaging between 30,000 and 40,000 units. The week following the price drop, sales rose to 75,000 units. The week after that, 100,000 units. As the PS3 is one of the least expensive and most popular Blu-ray player, sales of Blu-ray movies should see a boost in sales as well.