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@ seece -
Your point is correct, but slightly off. Nintendo did loose money on each Gamecube sold in the first 6 months, but only in the single digits. Also since it didn't come with any games at that time if the consumer bought just one game they would make back that $$ lost. So essentially yes they did make money from each consumer who bought the Gamecube.

@Snake -
And Nintendo's only big failure was the Virtual Boy.