I would have to say yes to a certain degree. The N64 was doing alright...it wasnt spectacular but it wasnt a dud either. Nintendo made an attempt at a 32 bit system with the Virtual Boy which flopped so hard, it faded far into obscurity and you never see or hear it being talked about. One day it was on sale for $150 at Toys'R'Us and the next...I saw it for sale at $24.99 (USD). Nintendo simply could not compete with Sony who had created a very solid gaming platform and then later down the road, the XBOX.
Nintendo's GameCube was underpowered compared to the PS2 and XBOX and its array of games was not up to the same calibur people had come to expect from Nintendo (those coming from the NES and SNES such as myself). They managed to give us some solid games, namely the Metroid Prime series but just no where near what Sony and Microsoft were producing on their respective platforms.
Nintendo was crashing and they knew it. They had to create something that would bring them back into contention and along came the NDS. Met with heavy speculation prior to its release...gamers and producers alike were quite suprised as to just how well the NDS did. Having a pretty solid launch title set...it took Japan by storm as well as the United States (sorry Europe...I havent looked at statistics regarding your region so I can not say how well the NDS was received). With exceptional totals coming in and more 3rd party companies jumping on board...the NDS became the front-runner of Nintendo's products.
The Wii definitely did a lot to further Nintendo's resurgence into the gaming industry firmly planting themselves as a heavy hitting contender however doing it in an unorthadox way with touch screen on NDS and Wiimote motion play on the WII. I think what really helped the Wii was the fact that it game with Wii Sports (primarily designed to allow people to gain an understanding and feel for how gameplay on the Wii would be like however it was a game bundled with the Wii non-the-less which we hadnt seen in a while).
The NDS placed Nintendo back on the gaming map and the Wii solidified their position. So my answer is Yes
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