The online retailer is currently selling Sony's new console at an unprecedented £387.87, and Play.com, Gamestation, Shopto.com and WH Smith have also all been selling the console for under £400. Similarly Tesco and Amazon continue to offer several eye-catching deal software deals on the barely one-month old console.

“PS3 performed well pre-launch and the first week of release, but since then sales have dropped considerably,” said Gameseek boss Stephen Staley. “I am sure the deal will help matters. I personally believe the cuts are down to overstocking from launch. Credit goes to Sony for supplying for all of the demand, however this has left most retailers with alot of stock and with the consoles costing around £400 you can imagine, its not healthy for any business to have alot of PS3 consoles gathering dust in a warehouse.”

Gameseek has even resorted to selling at a loss to boost PS3 demand. “We are obviously selling the console at a loss to try and attract new customers to our site. We are sure the PS3 is going to be big business for us over the next eight years so to get a good foothold in this market is essential,” added Staley.