Sony has said that its quarterly profit has more than trebled, in spite of sluggish PS3 sales.

For the period between April and June Sony reports an operating profit of 99.32 billion yen (£402.8 million), up from 27.05 billion yen (£109.6 million) during the same period last year.

While PS3 sales have shown signs of improvement since the US price cut earlier this month, the increased profits are attributed to strong digital camera sales.

Sony's Chief Financial Officer, Nobuyuki Oneda, said that the PS3's sales fell short of expectations between April and June, but was optimistic about the price cut's impact. "Thanks to these measures, PS3 sales are picking up pace" Oneda said.

In comparison, Nintendo upped its profit forecasts for the fiscal year ending March 2008 by 40% on Wednesday after a strong performance from the Wii and DS.

Nintendo also raised its shipment forecasts for the Wii by 18% to 16.5 million over the next fiscal year. Sony said in May that it plans to ship 11 million PS3s in the same period.