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If you consider Sony anticipated 5-6 million from launch to end of March, their current production has them set for 6.6-7 million which would have been perfectly acceptable. The demand is definitely still strong, to this day I have yet to see a PS4 in any brick and mortar outlet while all other system have been readily available.

I would guess Sony is content right now to sell everyone they make for the first 10-15 million instead of ramping up production and possibly having a glut in the Summer and Fall. It is a difficult balance to strike.