Guess

The empire of evil is next, a.k.a. Activision.

Nokia!
oh wait.

Valve?

I think it'll be Apple. They've really improved as a company since the Pippin and if the iPod and iPhone are any indication, they know how to make quality hardware, sell boatloads of it, and make a killing in the process. If they make a console, it'll essentially be the next Wii.

The flip side is that they'll end up edging either Sony or MS out of the industry.

Actually, on second thought.

Apple would die if they made a console. Their products are too expensive. In any case, I agree with above posts, that if they did have a more formal entry into the gaming market, it would be by expanding gaming on their iPod Touch/iPhone.

Its too late, just like saying another company will get into the OS market. It wont happen, an example would be Google's failed attempt at it. It would cost Apple roughly around 5 billion dollars to make the console, get support, create new divisions etc. Also they would have like no first party titles and would take about 2 years after the console is released to get full 3rd party support.

@DaBuddahN:
Also because there is more potential room in the portable gaming market, where there are currently only two competitors.