• Associated Press, Monday, November 6, 2006 12:30 PM

When the Sony Expo unveiled Sony's PlayStation 3--which hits shelves in less than two weeks--gamers stood in line, dumbstruck by what they saw. Thousands were on hand--mostly male, ranging from pre-teens with braces to baby-boomer hippies.

The PS3, at $600, will also top many post-holiday shopping balance sheets. Even at that price, Sony won't even be breaking even on what it spent on production. In other words, Sony hopes millions will buy.

At the moment, supply is easily outstripping demand for the new next-gen system. People looking to cash in on the phenomenon are selling their pre-reserved PS3 consoles on eBay for well over $2,000. Rights to one recently sold for $3,250, plus $50 for shipping. Sony expects to have 400,000 units ready at the launch--with 600,000 additional units arriving by year's end, and 2 million total by March, the end of the company's fiscal year.

Read the whole story at Associated Press »