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End of the PS3's first financial year - PS3's in the channel approximately= 0 As it was sold out pretty much everywhere
End of last financial year PS3's in the channel approximately = 1.2 million
End of the financial year we're currently in presumably = 1.2 million

So even though the number they are shipping is only 0.7 million more this year
The actual sold to consumer number will be closer to 1.9 million.

Which still isn't great, but who knows, they may end up raising their predictions later