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We haven't seen the Nextbox yet, but if Microsoft plays competitively, I think it's possible.

Think about it, America is Xbox land. So the biggest territory is already theirs, by a pretty good margin. I think that if Microsoft plays hard ball, they could win America by an even bigger margin. Then there is Europe, where Sony has the edge, but I that could be a wash this gen if Microsoft gets the right games. Then Japan is obviously Sony's turf, but really by this logic it will come down to Japan vs America. I think it could be an Xbox victory based on the rising value of the Xbox brand.