Looks like officially worked, but the short run of sales could impede the long-run of the precious holiday sales.

SCEA President, Jack Tretton said, “We are up about 300 percent over where we were pre-price drop. We are up significantly versus last year.”

The surge is largely due to the price cuts announced by Sony in August at Gamescom, which also introduced the PS3 Slim. Sales before the drop and Slim were abysmal, as they lag behind competitors Microsoft and Nintendo, large in part due to pricing.

Now that they have finally gotten their act together with pricing, the new obstacle is whether or not there will be shortage come the holiday season. It is because of the soaring sales that it’s only downfall will be outselling it’s production.

“If things continue at this pace, it is conceivable that there will be product shortages”, Tretton said.

Tretton also stated that about 13 million units will be sold before end of the first fiscal quarter, March 31, 2010. That means it will have to have sales average 1.85 million unites per month, and it is looking all likely that Sony can pull it off.

Given that the economy is in bas shape, this is actually pretty good news for Sony. With new titles such as Uncharted 2, Modern Warfare 2, and Final Fantasy XIII hitting shelves in the coming months, with possibilities of bundling. The only downside is the possible holiday shortage, which can really hurt them in the long run. Nevertheless, with Xbox 360 currently stunted by the PS3’s sales surge, Sony now has made console wars even hotter now.

Sources: Gamespot; Ign