The game landscape has shifted dramatically since the introduction of Microsoft's (NASDAQ:MSFT) Xbox 360 and Sony's (NYSE:SNE) Play Station 3. Smartphones and tablets have dramatically increased in popularity, and many casual gamers have shifted their gaming habits toward these mediums. To make matters worse, the total U.S. population of gamers has also been shrinking. According to NPD, even when accounting for the shift to mobile, the overall U.S. population of gamers has declined by 5% between 2011 and 2012. In this video, Fool contributor Steve Heller explains why he believes that next-generation gaming consoles may be dead on arrival.

Fool contributor Steve Heller has no position in any stocks mentioned. The Motley Fool owns shares of Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.