Sony has announced that its next-generation game consoles are completely sold out.

Sony Interactive Entertainment CEO Jim Ryan told Russian news media outlet TASS that "everything is completely sold out" and that the company plans to ramp up the supply of consoles.

While these shortages are not likely to be resolved anytime soon, there is still hope for holiday shoppers.

"Everything is sold. Absolutely everything is sold," Ryan explained. 'And everything is sold in Russia. I spent a lot of time last year making sure there was enough demand for the product. And now, in terms of my executive bandwidth, I'm spending more time trying to increase supply to meet that demand."

It is difficult to determine when supply will surge. So far, retailers with new inventory have tended to sell out of PS5s in mere minutes, as demand for both the regular and digital versions of the PS5 has been very high.

We have a dedicated hub for buying PS5 that tracks inventory updates and retailers selling Sony's new console. However, we have not been able to find any retailers in the US or UK with stable PS5 inventory.

However, Walmart will have more PS5 stock starting November 25 at 9 p.m. ET. Other retailers should also have supplies in time for the Black Friday sales season. However, these inventories are limited and will likely sell out very quickly.

We also encourage you to sign up for stock alerts from retailers that offer stock alerts. It also wouldn't hurt to follow informative Twitter accounts such as @PS5StockAlerts and @Wario64.

Despite having only a few exclusive games, including Spider-Man: Miles Morales, the PS5 was overwhelmingly popular at launch. In addition to being an impressive console, the PS5 is also an upgrade path for the PS4's vast user base: with over 113 million PS4 units sold worldwide, there will be a huge number of PlayStation fans eager to step up to the PS5.

"We know from our history that about three-quarters of the initial user base from launch to Christmas is an upgrade from PS4. The remaining 25% will either move from other consoles or come from outside the console ecosystem." In other words, the vast majority of PS5 buyers will have a PS4."

So it's no wonder the PS5 is so popular. However, the Xbox Series X is equally difficult to find - check out our article on where to buy the Xbox Series X for more information - and it sells out quickly as well.

In short, the appetite for next-generation gaming consoles is so great that it is unlikely to be satisfied anytime soon as both Microsoft and Sony struggle to get their console inventory shipped to retailers and into the hands of hungry gaming fans.