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apple might be able to pull it off, but it still we be very hard, a lot harder than getting into cellphones or mp3 players and dominating it.
its not only about getting the people to buy the console, its also about getting enough developers to trust them and start developing games to be ready for launch or soon after.

they definitely need a innovative concept to pull it off, and with the current apple brand and associations with it i personally find it much more likely that they would be aiming at portable market first.