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Reasonable said:

Seems unlikely Sony could just stuff the retail network to that extent.  In the end the retailer decides what they will buy, not Sony.  Sony can push hard but they can't make it happen.

In the current economic climate I'm skeptical that worldwide retailers would allow Sony to convince them to buy that much extra stock in excess of demand.

Retail may be overstocked to some extent, but I have to figure that the site has also under-tracked as that's just too much excess inventory to accept as probable.

I'm therefore taking the middle view that there is some under-tracking combined with some retail stuffing.

Bold - Overstocked the last three quarters for what??? And overstocked again, again and again... I agree with you... undertracked makes more sense.