Playstation 3 Preorders Sell Out

It Has Begun! Well it sold out even before it begun... Playstation 3 Preorders sell out quickly!

GameStop Corp. (GME.N: Quote, Profile, Research), said on Tuesday its 3,600 GameStop and EB Games stores in the United States have sold out their quota of pre-orders for Sony Corp.'s (6758.T: Quote, NEWS, Research) (SNE.N: Quote, Profile, Research) new PlayStation 3 video game console.

Each store had no less than eight and no more than 13 of the anticipated next-generation players available on pre-order, GameStop spokesman Chris Olivera told Reuters.

"In some stores they sold out in 10 minutes, in some stores hours, for others it was the afternoon," Olivera said, declining to say how many units the biggest video game retailer in the United States had been allotted.

Sony will begin selling the PS3 on Nov. 17 in the United States.

The Japanese electronics company will offer $500 and $600 versions of its hotly anticipated video game console, which includes a high-definition Blu-ray DVD player.

Why such shortage?

Sony isn't manufacturing a shortage here to get some buzz going --they've had all kinds of problems getting together the Blu-Ray player for the console. Of course, this is the same bit of hardware that's driving the box to its $600 price tag. Couple extreme scarcity with high prices and a less-than-stellar list of launch titles, and the PS3 is increasingly looking like it's in for trouble.