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^Here's my prediction...

PS2 took 10 years before it fell bellow 5M sold on yearly basis. Let's take it as a standard of "10 year plan" console. PSP on it's 6 year (this holiday season) will make around 7.5M, with this kind of trend it will fall to irrelevancy next year, exactly the same year when 3DS will be released that will hasten it's death greatly.

So how long it will take before PSP will fall below 5M sold yearly? 6 years, 7 at max if it lucky.