Sure it is. A gaming console has a plethora of alternatives available to the consumer. PCs, other consoles, game streaming, mobile games and other entertainment

Sure it is. A gaming console has a plethora of alternatives available to the consumer. PCs, other consoles, game streaming, mobile games and other entertainment options. If you need a smartphone ( and that is everyone for all practical purposes) your only choice is iPhone or Android. There are no substitutes whatsoever and little evidence of the price competition that would show market forces. In the same vein, software developers have no choice if they want to develop for smartphones and it’s hard to think of a substitute.