I don't think it did too well in the market. The GBA SP, which is also compact and has a bigger screen, was twenty dollars less than the $100 Game Boy Micro. In addition, the awesome Nintendo DS was really picking up steam at the time and has had continued growth.
Anyway, I decided to check EB Games' site and see if they were still selling Micros. To my amazement, they were, at a mere $50. I called my local EB and sure enough they still had a few in stock. Unfortunately, the model I wanted - the 20th Anniversary Famicom Collector's Edition, which has the styling of the 1985 Japanese Famicom - was still $70. So I actually ended up buying a used black Game Boy Micro for $40.
Both my fiancee' and the guy at EB cautioned me on the tiny screen size. However, I knew what I was getting and have no regrets. It's a system to be used with the right game in the right situation. Certain games without much text in them, for example. Certain situations where the GBA SP might be a little bulkier than desired.
Plus, I have a Game Boy collection of nearly every mainstream model starting back with the original, so that's another reason to acquire a Micro. Collectors, or those wishing to invest in a possible long-term retrogame item of value might want to pick one up now while the price and the demand for these are both low.
The above picture is the Game Boy Micro playing Wolfenstein 3D. Smallest first person shooter EVER.
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