Regardless, he does see one direct competitor to worry about: Apple. Fils-Aime rhetorically wondered, "Do I think that in the near term they can hurt us more than Microsoft? Absolutely." Though, despite astronomical sales of both the iPhone and iPod Touch, Fils-Aime believes that content will win the day, bringing up Dragon Quest IX as an example of a game that can "consume." He even pointed out that 14 of the top 20 selling games this generation originated with Nintendo.
Fils-Aime didn't point out Apple's bigger trump card -- its device does a lot more than play video games. We're confident that Nintendo isn't going anywhere anytime soon, but competing with a phone in terms of handheld sales? Not so sure about that.