Why we don`t have an european console maker?

[JRPGfan]

I had to look up what Gizmondo was.... because I didnt know.
Apparently it was a small Handheld, that came out early 2005, and competed against Nintendo's DS and Sonys PSP.
It ran windows CE, and had alot of pc port games running low res on it (carmagedon ect).

 

Video of a game on it: