So much for having a Playstation 3 under your Christmas tree if you live in Europe. Sony announced that the PS3 in Europe will not be out until March 2007.

Sony Corp. said on Wednesday it would delay the European launch of its PlayStation 3 (PS3) game machine to March from November due to inadequate supply of a key component, missing the critical Christmas shopping season.

This is the second time Sony, which competes with Microsoft Corp. and Nintendo Co. Ltd. in the nearly $30 billion video game market, has delayed the sale of its latest blockbuster PlayStation console.

The company earlier this year delayed overall PS3 launch to November from spring 2006.

"I feel sorry. I think there are so many people out there who hold such high expectations for PS3," Ken Kutaragi, the head of Sony’s game unit, told reporters.

Read the rest on Reuters.