Nov. 26 (Bloomberg) -- Sales of Sony Corp.'s PlayStation 3 video-game console more than tripled last week as price cuts drew consumers to stores after the Thanksgiving holiday.

The 245 percent increase in PS3 units sold in North America was reported by the top 10 retailers for Nov. 18 through Nov. 24, Sony spokeswoman Kimberly Otzman said today in an e-mail. The actual number wasn't available, she said.

Sony is benefiting from price cuts designed to make the console more competitive with Microsoft Corp.'s Xbox 360 and Nintendo Co.'s Wii. PlayStation 3 sales have quadrupled since the company cut the price to $499 from $599 and introduced a $399 model, Otzman said. Wii has been the top-selling console since its introduction a year ago.

Tokyo-based Sony lowered PS3's price on Oct. 18 and introduced the cheaper model on Nov. 2. The prices compare to $249 for a Wii and $280 for the least-expensive Xbox 360.

Sony American depositary shares rose 93 cents to $50.01 at 4 p.m. in New York Stock Exchange composite trading. They have gained 17 percent this year.

To contact the reporter on this story: Michael White in Los Angeles at mwhite8@bloomberg.net.

Last Updated: November 26, 2007 18:15 EST