Sony, without question. Obviously there were a lot of different factors at play, but of the three competitors Sony was the one that hurt Sega's console's the most. From the announcement of the PS1 price point of 299 at E3 1995 just hours after Sega had announced that Saturn would launch at 399 (though Sega certainly made their own mistakes as well, announcing that the Saturn would be out immediately without any warning given to developers and many retailers, which angered them.), and then the Dreamcast's sales plummeting as the PS2 was nearing release.
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