On March 24, 2000 in Japan, Sony Computer Entertainment (SCE) released its long-awaited follow-up to the successful PlayStation console. At the time of its release, Sony's next-generation PlayStation 2 (or "PS2") was the most technologically advanced console system to hit the market. Its performance specifications compared favorably to most available computer hardware at the time, and the system represented a step forward in the evolution of home entertainment by combining a state-of-the-art game console and a DVD/CD player in a single box.
On October 26, 2000, the PlayStation 2 was released in North America at a suggested retail price of $299 U.S. and $449 CDN. Sony initially shipped 500,000 units of the PlayStation 2 to North American retailers with plans to ship approximately 100,000 additional units per week. Sony estimated that it will have shipped a total of 1.3 million market after only two months of release.