Rumor: Best Buy to lift Sony Playstation 3 embargo this weekend

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Will the nation's largest consumer electronics retailer finally start selling Sony PlayStation 3 gaming consoles? According to our sister site Joystiq it might. Rumors abound at quite a few gaming websites as well. There's some fast and loose talk that Best Buy Co.,Inc. (NYSE:BBY) will announce the sale this weekend in its nationwide Sunday edition advertising circulars.

The Sony PlayStation 3 console inventory has been on hold at all Best Buy locations around the country since December 21st. Why embargo coveted merchandise right before Christmas you ask? Retail stores have developed the annoying practice of holding hot items, then hyping them in a tight advertising blitz so they can move as much inventory as possible in one fell swoop. Call it manufactured mass hysteria.

On Joystiq: "According to unofficial Best Buy sources, stores are sitting on their PS3 shipments since 12/21 for a flyer advertisement being released New Year's Eve (12/31) stating they have a minimum of 25 60GB units per store. Our sources have the number at around 40 per store currently -- but it can be more in some locations. One source, using Best Buy's Retek Store System (RSS), says some stores have 60 units."

If that is credible, the PlayStation 3 would join the Nintendo Wii in the embargo party that happened during this holiday's shopping spree.

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Last updated: February 10, 2010: 06:36 AM

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