Sony Computer Entertainment America (SCEA) is celebrating the seventh anniversary of its PlayStation 2 console.

More than 120 million units and more than a billion units of PlayStation 2 software have been sold worldwide since its release in North America in October 2000, making it the best selling gaming platform ever released.

"While today's anniversary celebrates PlayStation 2's past, we are very excited for its future," said Jack Tretton, president and chief executive at SCEA.

"We look forward to the platform's continued growth and anticipate that PlayStation 2's lifecycle will exceed that of the original PlayStation.

"Never before has an in-home game system experienced this type of worldwide success on such a long-lasting scale."

The PS2 has helped to establish the DVD format, as well as giving gamers some of the most popular software titles in video game history.

The console's software library runs to nearly 1,500 titles and this number will continue to grow with more than 160 new games expected in North America throughout the holidays and by the end of March 2008.

New titles include Guitar Hero III: Legends of Rock, High School Musical: Sing It, Madden NFL 08, Manhunt 2, NBA '08, Rock Band and Buzz.

Sony will be celebrating the anniversary with the release of a limited edition Ceramic White PlayStation 2 bundled with SingStar Pop and two USB microphones.

The new PlayStation 2 bundle will be available in North America in early November for $149.99.