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Mummelmann said:

The majority of developers who have croaked this gen were actually been making cheap handheld games for phones and the like.

That's not actually the case.  The majority of layoffs, bankruptcies and studio closures this generation have had to do with multiplatform devs, and usually those focusing on 360/PS3/PC R&D.  I could start naming them if you'd like (GRIN, EA Chicago, Midway, Krome Studios, Pandemic Studio, Ensemble Studio, ACES Studio, Neversoft, Paradigm Entertainment, Secret Level, Sega Racing Studio, Bizarre Creations, Luxoflux, RedOctane, Helixe, Mass Media, Locomotive, Shaba Games, Realtime Worlds, Kush Games, PAM Deevelopment, Venom Games, Core Design, Iron Lore, Big Huge Games, Flagship, FASA, Stormfront, Bottlerocket, Free Radical, etc, etc)... hell, layoffs have become like annual clockwork for publishers like EA, Activision, etc.