New Sony Computer Entertainment President Kazuo Hirai has said that 200 new pieces of software, as well as 180 download-only titles, would be released for the PlayStation 3 console by March of 2008.

PlayStation 3 sales performance has lagged far behind that of Nintendo’s rival Wii console, due to the lack of a decent game selection as well as its significantly higher price. Currently, there are 110 PlayStation 3 titles available worldwide, including 50 download-only games. The Wii console has tripled PlayStation 3 sales in Japan, and more than doubled its sales in the U.S.

The dramatic increase in available titles should help reverse the console’s poor sales, Hirai said in an interview with Japan’s Nikkei financial newspaper. He said that Sony would work with game publishers on marketing, including events and in-store promotions, in order to ensure an increase in the number of games released.

In an earlier interview with the Financial Times, Sony CEO Howard Stringer indicated the company was also considering price cuts for the PlayStation 3, which in conjunction with the promised influx of new software, could dramatically alter the console’s fortunes.

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