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Well if the ps4 is a runaway success and Microsoft fights back and we have a price war then Sony are vulnerable. The Sony brand is still a good one. Much more likely they would be taken over than go into bankruptcy. It's possible some of their debt may get written off if the company looks weak and investers believe the company has a good business model for the future.

Nintendo and MIcrosoft are safe although longer term Windows operating systems will be less important. Fingers crossed steamos removes the need for windows on gaming pcs in a few years.