Photo: The Canadian Press. All rights reserved.

People visit the booth of GREE Inc. , a growing social gaming service, at the Tokyo Game Show in Makuhari, Chiba, near Tokyo,Thursday, Sept. 20, 2012. Some 200 companies take part in the annual gala exhibition which opens to the public on Sept. 22-23. (AP Photo/Koji Sasahara)

It's not quite game over at the annual Tokyo Game Show opening Thursday, but with smartphones, tablets and other computer-like devices luring people away from the once-dominant consoles devoted to video games, the rules have changed.

Adding to the uncertainty is the long wait for the possible successors to such game consoles as Sony Corp.'s PlayStation 3 and Microsoft Corp.'s Xbox 360, perhaps a PlayStation 4 or Xbox 720. Nintendo's Wii U home console goes on sale in November in the U.S. and Europe, and on Dec. 8 in Japan.

"The game industry in general is still very much in a state of flux," said game veteran Mark MacDonald, executive director at Tokyo-based 8-4, which localizes and consults about games, including "Monster Hunter 4," one of the blockbusters displayed at the show.

"Mobile and social games continue to grow, and although some business models have emerged, everyone still seems uncertain of their future. Will they keep growing? Will they be looked back on as a fad? Or are they the future?" MacDonald said.

Some of the booths at Makuhari Messe hall in this Tokyo suburb looked familiar, with big screens running trailers of the latest versions of hit games like "Biohazard" from Capcom and "Final Fantasy" from Square Enix. But some booths also had games for smartphones.

Gree Inc., founded in 2004, has risen to stardom through social games, often played on smartphones, in which players can interact and co-operate with each other. Gree had the second biggest booth at the show after Capcom.

Yoshikazu Tanaka, founder and chief executive of Gree, was not only bullish about smartphones and social games, he said he was also looking to emerging markets for the next wave of growth.

He said game consoles will not catch on in some developing nations, but people there had mobile phones, presenting opportunities for Gree. In a decade, emerging nations will make up 80 per cent to 90 per cent of the game market, he predicted.

Gree is rapidly growing, tripling its employees to more than 1,800 over the last year. The startup now has overseas offices, including San Francisco, London, Beijing, Sao Paulo and Dubai, determined to conquer emerging markets, he said.

"If we stop taking up challenges, there is no future. Globalization is a huge opportunity," he said in a keynote speech at the show.