Will The PlayStation 4 Be Sony's Last Gaming Console?

Buying the latest console was once a rite of passage for many Generation X'ers and gamers, but the PlayStation 4 might be the last console available to the public. Sale of games dropped by 22 percent in 2012, causing many tech experts to wonder whether gaming consoles are going extinct.

Logan Decker, editor-in-chief of PC Gamer joined Jacob Soboroff on HuffPost Live to discuss.

"The way I see it, a console is basically a device to keep you from playing games you haven't paid for," Decker said. It took Sony four years of losses to make profit on their PlayStation 3 console, and Microsoft six years. Decker said this is a"brutal" turnaround time and probably not something that gaming companies can afford to continue.

"Instead, I think the strategy for this last generation of consoles will be to rein in hardware costs as much as possible," Decker said, "and gradually transition gamers to streaming instead."

In fact, newer gaming companies are creating games that don't need a console at all, and some that can even be played on a cell phone.

Watch the entire segment on Huffpost Live.