Yes, there is a slight shift of investors moving towards funding startups that make mobile applications. This trend will not continue. Its not like they will take over console gaming, but they will put a slight dent in its marketshare for overall gaming. Since mobile applications are so limiting, I don't feel that they will ever be as complex as console and handheld or even PC games. So I think that the industry really doesn't have to be too concerned. Many people still like disc based games and DLC. To me, there is much great competition in the mobile application space, but in terms of gaming, you can only do so much on a tiny screen.
http://www.gamesindustry.biz/articles/2012-11-21-venture-capital-for-beginners
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