Usually when businesses lose their glory they never go back and redeem themselves the same way. Nokia phones are one example, they were so huge in the 90s and ever since the introduction of smart phones they are almost forgotten now.  Sony managed to dominate the home console market ever since the 90s up until about 2006-07. We can all probably agree that the PS3 was a major blow to Sony; after being so successful with PS1 and especially with the PS2 now Sony was losing big portions of the market to Microsoft's Xbox 360 and Nintendo's Wii. Sony did invest in quality first person exclusive games for PS3, which helped them a lot, but I must admit that I was almost certain that future Sony consoles (if there was any) would never live up to PS2's glory days. On the other hand I was certain that Microsoft would capitalize on the success they had with the 360 and they would at least maintain their strongholds in NA and Europe.. However we all know how things turned out.. PS4 is now dominating the console market again they are outselling Xbox 1 both in NA (its main stronghold), Europe and Japan. 

Now, we can all give many reasons as to HOW Sony managed to come back from catastrophe and lead to success again..   But what do you think are the top reasons this happened.  

A combination of learning from their mistakes and the other two fucking up.

By being cheaper than the other guys.

Amazing marketing, great games, massive brand.

Good marketing, good price and MS and Nintendo helping then

Massive Brand, Best in class exclusive line up, exclusive deals on massive games and of course powerful console too.

Especially this. PS3 wasn't extraordinary unpopular and PS4 isn't extraordinary popular. PS4 is just selling better because the competition is a lot weaker.

By delivering a lot of awesome games and variety.

Both Nintendo and MS goofed hard