A $399 (£200) price cut has boosted PS3 sales in the US to more than 100,000 units for the week ending November 11 - figures on scale with Wii and 360 sales.
"It's the breakthrough we've been anticipating," Sony CEO Howard Stringer told the Associated Press. "We've been holding our breath."
He added, "We've taken so much heat over the year on PS3. Finally, the turning point has been passed."
In its first year, Sony sold 5 million PS3 units compared to Nintendo's 9.3 million Wii units for the same period. By comparison, Microsoft has sold 11.6 million Xbox 360 consoles.
Stringer added, in gentlemanly fashion mind you, that continued shortages of his competitor's machine have played a part in his company's recent success.
"It's a little fortuitous that the Wii is running out of hardware."