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Why do people continue to claim there are only 700k Xbox 360s in stock while the real number is 1.2 million? BKK2 already mentioned they shipped 28.5 million, not just 28 million. And 2 million in stock is definitely possible, inventory is higher in the holiday season because sales are higher as well. So while normally there might be around 1 million consoles in the wild, having closer to 1.5 million at the end of December seems very likely. And if sales end up being lower than expected it can easily get to around 2 million units left in inventory.

@mehm: For years Sony only provided production shipment numbers. As far as I know there is no way to know exactly how many PS2s have been shipped to retailers since launch.