It is possible, but looking at the numbers it is not a good thing ...
Compared to 2011 yearly sales, as of December 15th the PS3 has sold 75% as much, the XBox 360 has sold 67% as much, and the Wii has sold 39% as much as they did last year; and hardware sales across the current generation consoles are 60% what they were last year. Certainly, hardware sales will creep up based on the last two weeks of sales of the year, but both the PS3 and XBox 360 will have seen 20% to 30% declines YoY.
The PS3 is gaining marketshare because its sales are declining at a slower pace than the XBox 360 or Wii, but they're still declining at a rapid pace; and the announcement of next generation consoles from Microsoft and/or Sony will only increase the rate of decline.
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