Sony Computer Entertainment Europe president and CEO David Reeves believes that PS3 is well on its way to overtake the 360 in PAL territories this year. According to Reeves, PS3 has already outsold the 360 in some countries.

Reeves said in a recent interview: “We don’t often mention the competition, but I will give you some interesting data: In terms of installed base in some of our major markets, such as France, Spain, Germany and Italy – plus some distributor territories in smaller markets like Switzerland – our current cumulative installed base is now higher than Xbox 360.

“It has not yet reached that in the UK. But the team here expect to overtake the installed base of Xbox 360 across all PAL territories in late summer. It’s also worth mentioning that last week we outsold Xbox 360 in PAL territories by a ratio of three to one.”

Reeves called 2007 the tip of the iceberg and thinks we’ll see massive growth this year. He said that big titles, such as Gran Turismo, GTA, Metal Gear Solid, Pro Evo, FIFA and Little Big Planet are “the building blocks” of Sony’s strategy for 2008. Reeves also confirmed that PS Home is still on track for spring and while Gran Turismo doesn’t have a solid date, it would be out before the end of March.