As it does every four or five years, the 
video game industry is rebooting itself this year. Instead of rolling out brand new game systems for the living room, though, manufacturers are looking to build on the market they’ve already created.
“The video game sector is nearing a turning point, with the potential for new hardware innovations and a strong development pipeline to reinvigorate growth,” says Colin Sebastian, an analyst with Lazard Capital Markets.
While the video game industry has its share 
of problems, complacency is not one of them. Innovations roll out at a staggering pace—which is part of the reason gaming can be such an expensive hobby.
Generally, the life cycle of a game console goes something like this: After a splashy launch, the system will spend roughly five years in the spotlight, followed by another three to five years living in the shadow of the next generation. But for the Xbox 360, PlayStation 3 and Wii, the spotlight will keep shining for the next several years.
Chris Morris: Journalist 