In a Wednesday interview, Jack Tretton, CEO of Sony Computer Entertainment of America, said that ever since Sony announced a $100 price-cut for its PlayStation 3 video game console last month, the sales of the console have shown a notable increase - so much so that the strong demand would likely result in empty shelves at retail stores!

Noting that the sales figures are "up significantly" as compared to last year, a positive-sounding Tretton said: "We are up about 300 percent over where we were pre-price drop. If things continue at this pace, it is conceivable that there will be product shortages."

Statistically speaking, in the past three weeks, the global unit sales of Sony's new smaller and lighter PS 3 Slim have touched one million.

The most recent figures happen to be Sony PS 3's best numbers - the console's high price had earlier pushed it to the third-place in the console market, ever since its 2006 launch; thereby making it lagging notably behind its rivals, the Nintendo Wii and the Microsoft Xbox.

Sony has, however, said that the turnaround for the PS 3 largely depended on the inclusion of the Blu-ray movie player, which makes its purchase a more appealing deal. In addition to playing games, the console now allows users to surf the Web and watch films on Blu-ray discs.