Sony says PS3 outselling Xbox 360 in Europe

Sony is touting European sales figures which have surpassed those of Microsoft, even though the Xbox 360 was released some 16 months before the PS3.

About five million PS3's have been sold in the region, with the console consistently outselling the Xbox on a month-by-month basis since October of last year. The news is somewhat shocking, considering the significant lead time Microsoft enjoyed.

Worldwide, the console had sold about 12 million consoles, the company said.

Microsoft had a price advantage over Sony as well. In the UK, the PS3 retails for £299 -- almost double the £159 entry point for the Xbox 360. Analysts credit the PS3's broad appeal for its success.

Whereas the Xbox 360 is targeted more towards adult males, many argue the PS3 has a far broader appeal. Microsoft's strategy presumably does not play well in European markets.

Sony isn't giving up on the US market yet, even though it has a greater distance to cover to outsell the 360. At a company event in London Tuesday announcing the PS3's victory, Kaz Hirai said it expected to be similarly competitive in two to three years in the US market.