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1. PS3 making a comeback. The PS3 was a disaster but it made a decent comeback in the last half of its cycle. Getting cheaper + the slim, then getting games like Uncharted 2 and The Last of Us. Sony's comeback started with the PS3's comeback.
2. Microsoft and Nintendo faltering around 2010. The Wii was pretty much going downhill once 2011 hit - and the Wii brand took a huge hit as a result. The Wii U also was a spectacular failure and I have no idea why Nintendo did that. Then the Xbox 360 took a turn for the worst when it became a Kinect machine. And of course, the Xbox One's reveal disaster - that may have permanently damaged the Xbox brand.
3. The PS4 being cheap ($399), not having DRM, and not needing a stupid Kinect-like device. Sony went back to what made the PS2 a monster.