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Depends on how you look at it, I suppose: Nintendo's exclusively a video game company, so losing the lead with the N64 cost them lots of money. On the other hand, they've continued to make very good money.

Sony's only here to push its other stuff, so not being first isn't automatically as disastrous for the bottom line. On the other hand, it has lost billions, and even if the PS3 did single-handedly propel Blu-Ray over HD-DVD (I really doubt it) I'm not completely certain Blu-Ray is the future.

So it seems like Sony did.