February 23^rd, 2005 (1:59pm) - The PSP had been scheduled to launch in South Korea in March alongside its launch in North America, however due to supply shortages, Sony has revealed that it must delay the launch of the handheld to late April or early May in South Korea.

Sony will simply not have enough hardware to satisfy the demand of the PSP in both North American and South Korean markets simultaneously. Sony plans to have one million units of the PSP shipped to retailers in North America by the end of the fiscal year on March 31st.

The PSP will come bundled in a Value Pack that will be available on March 24th for a suggested retail price of $249.99. In addition to the revolutionary PSP hardware, the PSP Value Pack contains a package of accessories and entertainment content, including 32 MB Memory Stick Duo, headphones with remote control, battery pack, AC adaptor, soft case and cleaning cloth, movie/music/game video sampler UMD disc including multiple non-interactive game demos, and for the first one million PSP Value Packs shipped, a special UMD video release of the feature film "Spider-Man 2."