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It depends on how you measure failure. The only measure by which most would consider either console a failure would be units sold -- by that measure, even Nintendo stated they were disappointed with the gamecube.

However, perhaps the most important measure of success or failure is the purpose of the hardware: did it generate a profit for that company. By this measure, both the N64 and gamecube were successes, although neither to the level of success Nintendo would like.

And by that measure, Microsoft is the only one of the big three who hasn't yet had a success and is almost certain not to have one this generation.