Witholding supplies to create demand?

I don't have an article for this, but a friend of mine who worked for a large computer store told me something of interest.

He said that when companies launch a new game console, instead of rushing to get adequate supplies into the shops, they withhold supplies from countries where the item is selling well, to ensure that they create a strong demand for the product. (I am sure everyone is aware of many Computer related gaming systems that were out of stock for long periods last year). This ensures that the company can keep prices at the higher levels for longer, before dropping them. He intimated that this practice is especially commonplace around Christmas, when people don't want to disappoint their children and will often pay over inflated prices for items, especially if they are purported to be heavily in demand and in scarce supply.

I must admit I found it all a bit cloak and dagger, but the more I thought about it, the more sense it seemed to make. He is adamant that it has, and continues to happen to this day, but I am unsure, I feel that it could just be the circumstances being applied to fit his thinking. Does anyone else have any thoughts?