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I have pondered this quite often as well, your theory might be true but I don't think it's the whole reason.

Think about the PS3 sales, 8.5m of them are in Japan and considering the Japanese don't buy a whole lot of western games the userbase for western games is much lower than the 360 resulting in lower sales.

Second of all due to the PS3's very good exclusive library many gamers use it as their second console just for those exclusives, whilst there main gaming platform is PC or Xbox.