Sony's US chief executive Jack Tretton has said that with sales of the PlayStation 3 soaring, it's possible the console may suffer shortages at retail.

The company announced today that the console has sold a further one million units globally since the slim model was introduced just over three week's ago.

"If things continue at this pace, it is conceivable that there will be product shortages," Tretton told Reuters.

"In a very difficult economy, I couldn't be more optimistic about our fortunes for the rest of the year and for the future," he added.

In the US, sales are up around 300 per cent since Sony dropped the price of the console to USD 299, said Tretton.

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