If you have $250, what would you likely buy, an iPhone or the Nintendo 3DS?  It’s a no-brainer, right?  It’s this line of thinking that’s contributed to Nintendo’s 3DS launch to be an epic failure.  Aside from the high price, there wasn’t a great game that accompanied its release, so why would you buy something that merely offers revamped versions of existing games?  In today’s world, anyone can enjoy a great game on their iPhone, which practically has everything you need (even beyond games), for a few bucks or less.

But before Nintendo accepts defeat, the video game console maker is hoping for a miracle. It launched the Flame Red 3Ds in Japan about five months earlier, already reporting 4.3 million units sold.  Nintendo’s expecting the same effect when they re-launch the 3Ds in the US this week for the reduced price of $169.

So what’s new with the Flame Red 3DS?  Nothing, really.  It’s still the same old handheld that now comes in red rather than the blue or black earlier version.  But there will be new games released for the device, which they expect to up their sales.  The titles include: The Legend of Zelda: Ocarina of Time which was released in June, Pokemon Rumble Blast, out Oct. 24.,  Super Mario 3D Land, Ubisoft’s James Noir, Sega’s Sonic Generations and Shinobi will be released in November, while Mario Kart 7 will be launched in December.

“This is really about reinvigorating the Nintendo 3DS momentum and having that … power through all during the key holiday selling season,” Nintendo of America president Reggie Fils-Aime said.

And to appease the angry mob of early 3DS buyers, back when the device was priced at $250, they are offering 20 free, downloadable games in the eShop, which they launched in June.

“Although we may not be able to completely prevent you from regretting purchasing Nintendo 3DS early, we would like to express our gratitude to our special customers like you by offering 20 free downloadable games,” the company said in a statement.

If Nintendo still doesn’t succeed with their handheld re-launch, it may be time to move into the mobile gaming scene, as it is expected to hit $11 million by 2014.  So it’s not too late to jump in the boat.  Console gaming may soon become a thing of the past as more game developers are creating iOS and Android versions of their popular games like GrandTheftAuto: Chinatown Wars from Rockstar Games, and Need for Speed: Shift 2 Unleashed by EA.  Admit it, though we love playing with our consoles, we can’t take them everywhere.   So if more console games become available on tablets or smartphones, consumers will surely ditch their consoles.   Besides, games are way cheaper on mobile platforms, and there are sometimes more addictive, like Angry Birds (Rovio), Cut the Rope (Chillingo) and Fruit Ninja (Halfbrick studios), to name a few.

Competitor Sony has already embraced mobile gaming with their Xperia PLAY, the first PlayStation-certified Android smartphone.  It’s a phone for gamers, letting you take calls and also enjoy an awesome array of games.  More people are looking into multifunctional devices to eliminate the need for carrying around too much stuff.  And if you’re willing to spend big bucks, better invest in something that not only entertains but also allows you to use it for other important things.