Today there's more bad news: Midway, one of console industry's oldest publishers, filing bankrupcy and rumours of Sega laying off more staff and cancelling games (which in turn would force Obsidian to lay off dozens from the Aliens RPG development). What's the probability of the industry entering it's third crash?

I believe a crash wouldn't affect PC in the slightest, since the vast majority of PC's revenue is from subscriptions, microtransactions and casual games, and all those are recession-proof. PC games are also cheaper, and there's no more worry about shelf-space because of DD's endless space and higher profit margins.

Handhelds, I think a crash would have a minimized impact compared to consoles, but I'm no expert.

However, what about consoles? There are news of retailers only carry the more known games and taking away space from the smaller games.

Midway, one of the worst large companies in the video game industry files for bankrupcy whilst retailers are reporting record revenues, and your calling for a market crash?

you just want a crash to happen so that PC will be at the top....I have seen your previous posts shio.
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The WII is having RECORD BREAKING SALES

The Xbox 360 is BREAKING THE TREND for "3rd year" PEAKs by having a fantastic 4th year

the PS3 is SELLING a HUGe amount for a console of the price it is

the DS is STILL HUGE

the PSP is doing Brilliant in Japan
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basically......NO

well, the worst would be a video game crash, with the exception of Nintendo & Ubisoft Z titles

Yeah I dont forsee it happening. Midway has been troubled for nearly 10 years now. Id expect Atari to be close behind. Sega is just focusing more on Nintendo titles and less on HD titles, so them shifting resources to Wii development might take some power from other projects. Normal fare for the most part.

hard to call a platform thats been on top for 20 years not on top of the industry. And a video game crash would affect everything from PC to console to handheld. Its not a single area getting affected if this happened.

Isnt the industry booming?

i may be wrong but wasnt 2008 one of the biggest years ever?If not the biggest?

No chance of a crash.

We may be heading to a monopoly type situation where all developement is spear headed by 4 or 5 behemoth companies like Sony, EA, Activision Blizzard, Square Enix and another.

But not a crash.

Videogame crashes have happened because of an oversupply of product to such an extent that retailers drastically reduce their new orders.  Considering companies like Midway are folding and the videogame industry is booming it doesn't make any sense that there would be a crash.

Can you give some proof that it has really been on top for that long? And in the later periods, it does seem that the PC is no longer the biggest in most areas (it even falls behind the PS3/X360 in certain areas).

Of course, World of Warcraft alone is on size, if not bigger than, the Ps3, so including that the PC market would be the biggest.

Kinda depends on how you count it I guess.