Sony’s PlayStation 3 console increased its global market share of current generation consoles to 31% in the first quarter of 2010 according to a report from Strategy Analytics.

The research firm says console sales are typically weak in the first quarter but does provide a useful indicator to the relative performance of competing platforms.

The research firm predicts the Nintendo Wii will be the top selling console in 2010 with 17.5 million units followed by the Sony PS3 at 14 million units and 10.5 million for Microsoft’s Xbox 360.

If the predictions are correct, overall console sales would fall by about 9% over last year.

According to the VGChartz gaming website, as of May 15th, 2010, the Nintendo Wii, Microsoft XBox 360 and Sony Playstation 3 have lifetime sales of 71.0, 39.8 and 34.9 million units respectively.

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