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I'd say that's more Microsoft's problem than Nintendo's. Someone owning a PS4 is more likely to buy a Wii U as a second console than an Xbox One. Why on earth would someone already owning a PS4 buy an Xbox One..? They would have to pay a second subscription for an online service, multiplatform titles on the Xbox One have for the most part been inferior and the console doesn't have anywhere near the quality of exclusives that the Wii U has.

Perhaps there isn't room for 3 consoles, but given how the Xbox One has been flopping after its successful launch and the points I've made above it's Microsoft that has a bigger problem than Nintendo. It's only a matter of time before the PS4 SKUs of multiplatform titles sell twice as much as Xbox One SKUs and third party publishers are going to start to take notice.