Could Apple look for a Pippin replacement? Maybe, actually, according to Trademork which dug out an Apple trademark which talks about “hand-held units for playing electronic games; hand-held units for playing video games; stand alone video game machines; electronic games other than those adapted for use with television receivers only; LCD game machines; electronic educational game machines; toys, namely battery-powered computer games”.
The full trademark application can be viewed on the USPTO page.
Pippin was Apple's last try at some kind of multimedia-cum gaming console and it failed miserably, ending up in PC World's list of "25 Worst Tech Products of all Time".
While this could be a possible rumour brewed by Steve Jobs himself to confuse its rivals, it could also be a precautionary measure to prevent other unscrupulous manufacturers from launching their own fake gaming consoles based on the Apple mould.
Arstechnica suggests that Apple might actually use Apple TV to get games into the hands of Mac users; but Nintendo, with its hugely popular Wii gaming console - which looks like something Apple could design - might actually have filled the gap that Apple was eyeing.
Apple already sells games for its iPod media player but that's it; a gaming console or a gaming platform for Mac would probably pull in substantial revenues for Apple but it would also be a huge financial risk as, unlike for media players, the market is highly divided and gamers are highly loyal.