E3: Sales of PS3 double following price cut

It may only be days since Sony announced a USD 100 price cut for the PlayStation 3, but according to SCEA boss Jack Tretton sales have doubled in North America.

Now selling for USD 499, sales have shot up at five of North America's leading retailers.

"Since Monday, sales of the 60GB PS3 have doubled at our top five retailers," said Tretton during Sony's E3 conference.

The company said that it now hopes to ship at least 11 million units by the end of this year.

Although boosting sales, some publishers have expressed doubts that the price cut will have a significant effect on sales in the long term, with Square Enix president John Yamamoto telling GamesIndustry.biz, "I think USD 500 for PS3 is still a bit expensive for most gamers."