Stringer: PS3 selling 200,000 units per week in Europe

Speaking earlier today, Sony chief executive Howard Stringer said that the firm’s three-year cost cutting reforms, which included the

sale of its Cell CPU business to Toshiba

, had placed the firm in a strong financial position that will allow it to bring back some of the wow factor that is the Sony trademark” and allow Sony to focus of innovation going forwards.

He was also upbeat about the recent spike in PS3 sales, claiming that 200,000 consoles were selling each week in Europe and up to 50,00 each week in Japan, CNBC reports.

Stringer also added that the PlayStation Network is one of a number of products, along with the likes of its new OLED TVs and Rolly music player, that prove Sony is once again wowing the global technology market.

Sony also vowed to make smarter use of properties currently owned by its numerous divisions, such as the Spider-Man movies and singers such as Justin Timberlake and Beyonce Knowles. This is something Sony has previously come under fire for – but it now says that improving its record in this area will allow it to take on content-providing rivals such as Apple and Microsoft.