Microsoft ( MSFT) introduced the XBox 360e last year, but the video-game world is still waiting on the PlayStation 3 to debut later this year. Sony's ( SNE) PlayStation has been the world leader in video gaming since 1994, shipping over 200 million units worldwide. Nintendo also introduces its next-generation box -- Nintendo Wii -- later this year. I know a little something about video games. I grew up playing Pong, and later Pacman, yet I don't think I ever really dreamed that one day I would be a character in a game myself. When I was last in Afghanistan, I noticed a couple of soldiers playing a video game. When I saw the pigeon-toed character, I realized they were having fun with the new THQ ( THQI) WWE video game in which I am a character. While it is quite an honor to be a character in a popular video game, they could have at least straightened out my feet and took a few pounds off my hindquarters -- way too realistic for me. (Full disclosure: I get a portion of revenue from the sale of the THQ video game.) There is a normal deferral period when gamers are waiting on the new consoles. I believe the delayed launch of PS3 is the reason for slow sales in video games. With PS3 scheduled to be in stores just before Christmas, this could mean a fantastic year-end for game makers. A new console cycle has helped increase sales by 30% on average. Up until this past year, game makers were flying high. Activision ( ATVI) grew net earnings annually on an average of 61% from 2001 to 2005. Activision had increased margins every year and had a return on invested capital of 45%. However, then came the delay in PlayStation 3. To view John Layfield's video take of this column, click here .