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Genesis took a large piece of the NES market. The market grew overall, but it was split more 60-40 than 90-10. When N64 hit, the market had grown even further with those of us who grew up on NES now in college and a whole new crop of kids buying systems. In basic numbers Nintendo's market declined less in 5th gen, but it's market share fell even more. Especially when you consider how much the market was growing.

Total units went from less than 70 million to 80 million to nearly 150 million. Nintendo had a smaller piece despite a much larger pie.