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I think the proliferation of mobile devices like the iPhone, iPad, etc. has really affected the sales of gaming consoles. There are so many games available for the mobile devices that the need for a console becomes less. The mobile devices are also getting better and better in terms of graphic horsepower, plus things like AirPlay let people project their mobile games onto their TV sets.
At some point game consoles become redundant and somewhat unnecessary. So as the transition to mobile continues, I think we'll see lower and lower console sales. They just aren't as necessary as they used to be in days gone by.