I'm going by market share, not profits.
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Exactly. The Xbox was just a way for MS to penetrate the console market, and they got a pretty big share of it(20%). But the for each Xbox sold, MS actually lost money, not gained. For Sony and MS, their consoles are part of a larger corporate goal, while Nintendo are still struggling with the "just a console"-idea, since they actaully have to make money of it.