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Puppyroach said:
They are overtracking X1 extremely much right now in the US. But since we know shipments, it seems like there is some heavy undertracking somewhere else.

Highly doubt it.  From all the reports during launch and some after, we know that the PS4 is pretty much trouncing the One in the other regions outside of US and UK (still beating it in those to region, though.)  Especially in EU.  What we have is the One was overshipped in Q1, hence MS telling investors that they are decreasing One production to allow stores to sell their current stock.