The company has reportedly halved the cost of its software development kit in an effort to stave off the advance of arch-rival Nintendo.
Nintendo had sold 13.2 million Wii units worldwide by October of this year, compared to 5.6 million PS3 consoles over the same period.
The cost of the Sony development kit for the PS3 has been halved to $10,250 in the US and to €7,500 in Europe. Sony has also promised to enhance technical support to independent developers.
"As more and more new titles are developed for the format, Sony will significantly reduce the price of the reference tool in order to contribute to the cost saving measures of the development community," said a spokesman for the company.
Sony's move is widely seen as an effort to dissuade leading games developers from developing for the Nintendo platform.
Disappointing PS3 sales are also seen as a blow to Sony's built-in Blu-ray DVD player, which the company hopes will lead the charge to become the industry standard high-definition DVD format, beating off the rival HD-DVD.
'Sunlit wet sidewalk' provides evidence of methane rainfall on the north pole of Saturn's moon Titan
Methane rainfall indicates the start of the summer season in Titan's northern hemisphere
Scientists believe there could be other hydrides or superhydrides with super conducting properties
Resetting the telemetry circuits and associated boards brought the instrument back to operations mode
Fortnite news and updates: Flaw in Fortnite authentication could have helped attackers steal player login credentials
Attackers could have used Fortnite security flaw to buy in-game currency on players' stored credit cards