axumblade said:
I could be wrong but I've heard that the PS2 didn't start picking up a lot of momentum until a little while after it was released.
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No, the PS2 was wildly successful right out of the gate despite being $299USD. The only reason it didn't sell better was due to parts shortages. At the time, the sales it was achieving without a price-cut were considered absurd. No manufacturer had sold so many consoles at launch prices for such a long period of time like Sony did (~30M shipped worldwide from 2000-2002), and following the XBox's arrival in 2001, Sony announced at E3 '02 that they were dropping the price a full third, to $199 as a response (most expected a price cut, but only down to $249), so momentum just continued on.
In Jan '01 there were widespread reports that Sony was going to ramp up production to sate demand, and many analysts fled Sony in terror, thinking the company was going to overextend itself, flooding the market with consoles. The PS2 bubble is going to burst ... any day now ... they'd say.
Sound familiar? 
