Embracer Group is a company we’ll be talking about in 5-10 years in articles attempting to analyze “what went wrong”

I know the country isn't named, but I have a feeling Larian Studios is in their sights.......

It does fit the THQ theme quite well.

They are based in Europe? Maybe they will be the first European major console maker? They have a ton of ips they could make exclusive.

Philips is the first European console maker. 

I said major. Like, on the level of historic Atari, SEGA, or modern Nintendo/Microsoft/Sony, not some mid level or minor level manufacturer.

True:

Doubt it. They make a lot of their money selling their remakes *everywhere* and also a lot on mobile. Heck, with Asmodee they bought a board game maker.

Dedicated gaming hardware is a difficult business with established players. It is not easy to get in and you have to invest a lot of money. It broke Atari, it broke Sega. The ones that successfully entered the market of dedicated video game devices after the initial pioneer phase were Sony and MS, both using money and experience they made in other areas to establish themself. But Embracer would have to cut their profitability to make exclusive games and risk everything. So I heavily doubt it.

Another, much more plausible idea is, that any company willing to enter the market of dedicated video game devices (or in this times more like: streaming) might be interested to purchase Embracer to get all their IPs exclusive to their device/service.