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Posted: 2015-11-16T14:40:20Z | Updated: 2015-11-16T14:46:14Z

Japan's "Yo-Kai Watch " may just be the biggest phenomenon you've never heard of. Since its release in 2013, the video game franchise has raked in billions of dollars in that country, according to a Wall Street Journal report, and last week it arrived in the United States.

The game revolves around a young child who befriends and battles the titular Yo-Kai monsters, which are quirky spirits that might remind you of Pokmon. But put the obvious comparison aside: "Yo-Kai Watch" has a different flavor, for one thing, but it's also arriving at a wildly different time for the video game industry. It launched on Nintendo's 3DS handheld, a popular gaming system that nonetheless faces choppy waters ahead as smartphones become the de facto home for mobile games. If it catches on and helps sell more 3DS systems, then Nintendo's choice to support traditional hardware will be vindicated. (Nintendo has also released the game in a bundle with its budget-friendly 2DS hardware.)

If it fails, it simply makes the case that smartphones might be the more marketable choice for game-makers moving forward. Indeed, research shows that mobile gaming is already overtaking traditional consoles in terms of revenue, even if growth is slowing . Last year, Peter Moore, chief operating officer of video game giant Electronic Arts, said his company was moving away from handhelds like the 3DS to focus on smartphones.

All this to say: It's an interesting time to launch a franchise on a dedicated handheld video game system.

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