Correct me if I'm wrong, but Microsoft announced 28.5 million consoles shipped as of December. According to VGC, there were 27m consoles shipped...So they had a large number of 1.5m units sitting, too.
You see, there's this thing called 'overestimating demand', and some videogame companies do it. Atari did it with E.T, John Romero did it with Daikatana, and even MS did it with 2006 shipment numbers (they overshipped 2m consoles so they could hit the 10m shipped number....They only sold 8m, which is a much larger gap, FYI).
Back from the dead, I'm afraid.