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Vaporware, n. <jargon> /vay'pr-weir/ (UK "vapourware")
Products announced far in advance of any release (which may or may not actually take place). The term came from Atari users and was later applied by Infoworld to Microsoft's continuous lying about Microsoft Windows.
A contemporary example of Vaporware is the game Duke Nukem Forever, which was announced many years ago and has yet to be released--a time period far longer than the typical game development cycle.