Peter Vesterbacka of #-Link-Snipped-# - the company that develops highly popular game "Angry Birds" has said that the there's no future to consol games and they're becoming obsolete. The popularity of mobile devices is growing and they offer plethora of options to game developers. Yes, at present there are hardware capability limitations, but in future, we'll have very powerful hand-held devices capable of processing complex graphics.
I personally do not think console based games will die anytime soon. The nature of console based games is very different from those based on mobiles and I believe they'll continue to co-exist for a long time in future.
Your take on this?