Amazon, the world’s biggest internet retailer, last week told customers that “due to limited supply”, anybody ordering an Xbox 360 from now on will not receive it until next year.

The console, priced at £279.99, does not become available in Britain until December 2. However, its manufacturer, Microsoft, is already saying that it is short of key components, and supplies are likely to remain short until the second half of next year.

Game, the specialist retailer, says it is “unable to promise delivery before Christmas” for people ordering online. PC World, the electronics retailer, says that it has also sold out of its initial stock online – although retailers are holding some of their supplies back to ensure they can sell them in their shops on December 2.

Stephen McGill, head of marketing for the Xbox 360, declined to say how many consoles had been allocated to Britain. “This is a tall order for us; we’re trying to launch globally. We expect to have significant volumes available both before and shortly after launch, but there will not be enough stock this Christmas.”

In America, where the console will be available on November 22, it has now become virtually impossible to order online. Wal-Mart, the world’s biggest retailer, has sold out of its initial quantity, although it hopes to have more available for shoppers from that date.

A futures market in Xbox 360 has already emerged on eBay, with the consoles going for more than £400, a premium that is likely to increase as consumers realise the scale of the shortages. One alternative is to buy a cut-down version of the Xbox, the Core Edition, but this does not include a hard disc for storage, or a wireless controller. This is on sale for £209.99 but has not been popular.

The Xbox 360 is the first next-generation games console to emerge. The new device boasts improved graphics, and has a built-in broadband internet capability. It is also compatible with other consumer electronics – it can play songs from a digital music player, replacing any annoying game theme tune.

The stock problems are an embarrassment to the company, which is desperate to steal a march on Sony, the market leader. Sony is not introducing its next-generation console, the PlayStation 3, until next year.

Microsoft hopes to ship between 4½ million and 5½ million of the new consoles between now and June, but many of these will come late. Last month the company said that it would not be able to meet all demand until closer to the middle of next year. Chris Liddell, Microsoft’s chief financial officer, told Wall Street analysts that “consumer demand for the Xbox 360 will exceed supply at launch”, adding that “we expect to meet demand some time in the second half” of the company’s financial year, which ends in June.

WHAT, NO XBOX FOR ME, SANTA?

If you can’t get an Xbox 360, these alternatives might prevent Christmas morning mutinies: