Quick assessment

Korea - Due to PC being dominant platform

China - Sort of are with knock offs, also PC is big there

Japan came into consoles at its economic peak of the 1980s and ruled the roost for a while.  It took Microsoft, one of the biggest companies in the world, an entire generation of losing money to get its foothold.  

I remember Nokia (Finland) tried in a way with the N-Gage and that failed.  Right now the mobile business was new and proftibale so Apple (American), Samsung (Korean), HTC (Chinese) and others have found gaming of a sort there.  Traditional gaming is viewed as stagnating or declining so why dump money into something with so little return?

That wasnt really a console

I think they was just too late, it's a massive market and it's took up by Sony, Nintendo and Microsoft, it's just too hard too try and establish yourself with those three now. It would cost millions and it's just too big off a risk which will almost definitely fail.

There's no need for it. It's not like all 3 territories went:
Japan: Alright, so we're going to drop Sega and we've decided to open up a new position for Sony and Nintendo as competitors. Who wants it?
America: I'll take it!
Japan: Alright, it's settled. America will also make a console, sorry Europe. You'll have to wait until I get bored of one of my companies and drop it before you can enter the console race.

There's no need for a European console maker. And even if there was a position for a new console to crop up, chances are it'd be from either Japan or America anyway

Meh, Europe has its fair share of devs. I think most people just don't know they're from Europe.

Some of the better known studios:
Rockstar, Dice, CD Project, Codemasters, Crytek, Eidos (io interactive), Lionhead, ninja theory, quantic dream, rare ware, remedy, rocksteady,  travelers tale (lego guys), Media molecls, evolution, both gueillas, london studios, criterion and its spinnof gohst studios, wargaming (world of tanks), etc...

And also Ubi is french and has a number of subsidiaries in Europe

Also there are quite a few pc centric devs in eu land.

Plus some of the biggest name mobile des come from eu king (candy crush), rovivo (angry birds), supercell (clash of clans). Thanks Europe....

And of course the game of the decade Minecraft.

I would only except a console maker coming from china maybe in the future or if samsung buys up xbox. European leaders are US serfs like merkel so dont except them to initiate something and economic leaders are not in the position to change something. Its not only about consoles but IT and eco systems in general.

And it's also because the market is already crowded with three major players, so it doesn't make sense to spend the money for R&D etc. just to most likely not do well. So we basically won't get any new console mamufacturers, at least not anyone who will try to compete with the current Big Three.

Might explain in part why no European company has got into console space.

What European company would want to make a game system? Nokia? Philips? BMW (laughs)?

Eh. I just want more European studios for Nintendo & MS.

And I want Samsung to join the console race.......PROPERLY. Compete with Nintendo or Sony/MS. Make a proper console, get 3rd parties to join and start a couple 1st party studios.