Stringer: Wii shortage good for PS3

One man isn't worried that he may have problems getting hold of a Wii this Christmas--Sir Howard Stringer, CEO of Sony.

Stringer told the Associated Press that the price cut and new 40GB model of the PlayStation 3 have made the console more competitive, and he's hoping that it will give both the Wii and the Xbox 360 a run for their money this Holiday season.

He said, "It's the breakthrough we've been anticipating. We're holding our breath."

Since the price cuts in North America, Europe, and Japan in October, Sony's sales of the PS3 have jumped dramatically. Weekly sales were averaging between 30,000 to 40,000 in the US before the price cut was announced, and for the week of October 29, rose to 75,000. For the week ending November 11, after the 40GB model was also released, sales for the new console and its legacy counterpart the PS2 combined hit 100,000 in the US.

Stringer also believes that Wii shortages may help boost PS3 hardware sales over Christmas, as gamers unable to get Nintendo's console will look for other options instead. He commented, "It's a little fortuitous that the Wii is running out of hardware."