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I think that Nintendo and Sony will both be a lot smaller than they are now, with Nintendo being a lot more software focused and Sony being a lot more music/movie/gaming focused and less hi-fi.
MS will also be more or less software based allround and will, along with the other two, struggle to compete in the crucial casual and handheld markets (the handheld market will likely be mostly tab-like and phone-like gaming then, pure handheld gaming devices like the 3DS will be obsolete.
The home console market will probably become less and less relevant as technology fuses together in multimedia devices across the market and globe.

They will all stick to what they know until the market turns into something they wont know, this will be make or break for them all and they need to ride the wave or drown, this is especially true for gaming. Nintendo and Sony appear to be set up for the worst ride of the three, Sony are dead broke, losing marketshare and whole divisions and markets and Nintendo will likely never be able to become relevant on the gadget/phone/tablet scene, they just don't have that kind of pedigree and being a gaming only company might actually hurt them in the long run.