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People will want tablets more than dedicated gaming devices. People will want phones more than dedicated gaming devices. People will want food and shelter more than dedicated gaming devices. People will want clothes and toilet paper before they want dedicated gaming devices.

But does this really spell doom for the video game industry? Contrarily, I don't see the relevance at all.

Besides, if anything, the smartphone/tablet markets are reaching out into new consumer bases and growing the video game industry.

(That's not to mention that of course no one wants a PS3 or Xbox 360 anymore, they've been out for years!)