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Actually, I've predicted that another company will enter this gen but so far, there's no indication of that happening. Then again, if you want to blind side the existing players with your novel take on video games you wouldn't want them to have much warning. So it could still happen.

But based on current realities I'd have to guess MS and Sony's immense losses must be scaring competition away. Then again, Nintendo has proven you don't need to follow a loss leading strategy to succeed (or at least be profitable like GC).