Australian PS3 sales quadruple after price cuts

Sony Computer Entertainment Australia has gleefully announced a massive sales spike in the wake of PlayStation 3 price cuts.

According to data gathered by NPD Australia, the week immediately following the price cut saw "a surge of over 400 percent", but no hard numbers have been released.

"Australians love not only games, but also the quality home entertainment PS3 provides," said Michael Ephraim, SCEA managing director.

"Sales are booming because PlayStation 3 is the best device to connect to your TV, at incredible value, to provide the ultimate home entertainment experience."

The price cut went into effect on August 22 in Australia, and saw prices cut by around AUD $150. The 160 GB PS3 now goes for AUD $350 with the 320 GB model at AUD $450.

The Australia and New Zealand games market is worth around $2 billion annually.