Jesse Divnich, an analyst at research firm Electronic Entertainment Design and Research (EEDAR), said Friday that he believed that Nintendo Wii sales were hurt by supply constraints last month.

Divnich believed that the console could have sold 4 million hardware units if Nintendo would have been able to keep up with demand. EEDAR and Divnich had predicted that Nintendo would sell 3.25 million Wiis in December–in reality, Nintendo sold 2.15 million Wiis.

However, Divnich believed that the aforementioned supply constraints were the reason for lower than expected sales, not softening demand.

“These Wii figures are not any indication that is demand slowing down,” Divnich said. “The Nintendo Wii is going through supply just as quick as they have before and these numbers merely reflect the large disparity between supply and demand. We still believe the Nintendo Wii would have sold north of 4 million units have supply and demand been in equilibrium.”