Sega downsizing to mobile gaming?

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Well it looks like Sega is letting go 300 different job positions and relocating its business Southern California. This downsizing has also made them consider to move away from console game development to mobile and pc gaming. Is this a sign of Sega's end as a gaming company?

Article:
http://finance.yahoo.com/news/sega-america-relocates-southern-california-062000289.html;_ylt=AwrBJR6yUtFUSyoABhPQtDMD

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