Sony is taking advantage of Nintendo Wii shortages and a recent price cut of the PlayStation 3 to double weekly sales of the console in the US.
The PlayStation 3 was launched last year in Japan
Sony boss Howard Stringer told the Associated Press news agency: "It's a little fortuitous that the Wii is running out of hardware."
Two weeks after the price cut Sony sold 100,000 PS3s in seven days.
Mr Stringer said the increase in sales of the console was "the breakthrough we have been anticipating."
He added: "Obviously, we've taken so much heat over the year on PS3. Finally, the turning point has been passed."
Nintendo has become a victim of its own success, with many shops in the US and UK struggling to meet demand.
A spokesman for Nintendo UK denied that the company was witholding supply to boost interest.
"The video games market is a fiercely competitive one and it is not in our interest to withhold stock from anyone," he said.
Microsoft and Nintendo have not released weekly sales figures for their consoles.