However, the Saturn failed to take the lead. After the launch of the Nintendo 64 in 1996, sales of the Saturn and its games were sharply reduced, while the PlayStation outsold the Saturn by three-to-one in the U.S. in 1997. The 1997 release of Final Fantasy VII significantly increased the PlayStations popularity in Japan. As of August 1997, Sony controlled 47% of the console market, Nintendo 40%, and Sega only 12%. Neither price cuts nor high-profile game releases proved helpful. Reflecting decreased demand for the system, worldwide Saturn shipments during March to September 1997 declined from 2.35 million to 600,000 versus the same period in 1996; shipments in North America declined from 800,000 to 50,000. Due to the Saturns poor performance in North America, 60 of Sega of Americas 200 employees were laid off in the fall of 1997.
Question: Which companies each controlled 40% or more of the console market?
Answer: Sony | Nintendo