US retailer GameStop has reported that sales of the PlayStation 3 and Nintendo's 3DS have already jumped after both received recent price cuts.
While the 3DS price cut was larger than expected, president Tony Bartel told investors last night he's encouraged by the growth in hardware - sales of console in the second quarter were down, accounting for only 7.5 per cent of profits.
"We have seen a significant acceleration in the sale of PlayStation 3 and the 3DS," he said. "So we do expect for there to be an increase.
"Although these were not unexpected price decreases or price reductions that we had projected, obviously, the 3DS was somewhat larger than what we had anticipated. But we do see that will spark demand in the third and the fourth quarter."
"That is a good barometer for what is going to take place in terms of the installed base."
Nintendo dropped the price of the 3DS this last week with plenty of warning after poor sales, while Sony cut the RRP of the PlayStation 3 with immediate effect this week.
Another US retailer, Target, told our sister site IndustryGamers that it has also seen an "immediate lift" in sales.