Following the $100 price cut in the US on July 9th, sales of PS3 hardware have shot up by 135 per cent according to reports from Wal-mart, Best Buy, Target, Circuit City and GameStop – the firm’s five biggest retailers.

June NPD figures show that the PS3 sold 98,500 in the US during June, compared to 81,600 units in May, reported Next Generation.

The firm also enjoyed a 21 per cent increase in PlayStation brand sales prior to the price drop, while PSP hardware sales were up 31 percent year-on-year to 290,108 units, following a price drop of its own earlier this year.

"The new price on the 60 GB PS3, coupled with our very strong software showing from E3, is certainly paying dividends in terms of impressive sales across the board at retail," said Jack Tretton, president and CEO of SCEA. "This jump in sales bodes very well for us heading into the fall as we launch an impressive arsenal of hardware and software, leading off with the new 80 GB PS3 in August along with the unveiling of highly anticipated games such as Lair and Warhawk.

“That will be followed by Heavenly Sword in September and six more exclusive first-party PS3 games in October, including Ratchet & Clank Future: Tools of Destruction."