The console is such a huge seller the past demand for it probably resulted in significant investment in production technology, they sony are probably selling them at a profit in spite of the apparent low price.
I suspect MS probably terminated the Old Xbox to make room for the 360 in the same facility.
Anyway the PSP is basically a portable PS2 so PS2 technology (MIPS series CPU's and emotion engine derivative graphics set ) live on and all in a nutritious 200gram bar.

Yeah , I agree 09 will probably be the last Christmas , when the PS2 will sell ~ 200-500 k , and afther that probably less than a million in the rest of its lifecicle ...

Thats crazy, it sold 600k strong this week. Will it ever stop selling?? (retorical question)

The PS2 is an amazing console, I think it deserves one to three more years.

The PS2 deserves it. Lot's of good times with that system. Good memories!

Its going to make 150M.