SNK Neo Geo最終淡出主機市場，並非單一決策失誤所致，而是長期商業定位、技術路線與市場環境變化交織下的結果。作為一款以「家用大型電玩」為核心概念的主機，Neo Geo在誕生之初就走上一條極為獨特、同時也極為冒險的道路，這條道路在早期塑造它無可取代的傳奇地位，卻也在後期逐漸成為難以承受的包袱。

Neo Geo家庭版最大的特色，是幾乎完整移植街機體驗，無論畫面、音效還是遊戲內容，都遠勝同世代家用主機。然而，這種「原汁原味」的策略，直接反映在驚人的售價上。主機本身價格高昂，而每一片遊戲卡帶的售價更是一般主機遊戲的數倍，讓Neo Geo從一開始就成為極少數玩家才能負擔的奢侈品。這樣的高端定位，雖然成功塑造忠實且狂熱的核心族群，卻也嚴重限制了市場規模，使其無法像任天堂或索尼那樣形成大眾化的生態。

進入1990年代中後期，遊戲產業的重心開始快速轉移。PlayStation與Sega Saturn憑藉CD-ROM的低成本、高容量優勢迅速崛起，不僅遊戲售價更親民，也能容納大量過場動畫與配音，符合市場對「劇情導向」與「視覺演出」的期待。SNK 嘗試以Neo Geo CD作為因應方案，希望降低玩家進入門檻，但實際表現卻不如預期。讀取時間過長、體驗破碎，加上遊戲內容依然以街機移植為主，未能展現CD平台的真正優勢，反而讓Neo Geo在技術轉型上顯得進退失據。

另一方面，SNK在硬體世代交替上的判斷也出現問題。新一代的Hyper Neo Geo 64 未能成功延續既有格鬥遊戲優勢，作品數量與品質都無法與競爭對手抗衡，錯失承上啟下的關鍵時機。與此同時，格鬥遊戲市場在2000年前後逐漸降溫，玩家興趣轉向RPG、動作冒險與3D大作，加上模擬器與盜版的普及，進一步侵蝕以街機文化為核心的Neo Geo生態。

SNK本身的財務狀況，也成為壓垮Neo Geo的重要因素。除了主機市場壓力，公司在其他硬體嘗試上同樣受挫，例如Neo Geo Pocket未能與Game Boy系列競爭成功，導致資金鏈持續吃緊。在缺乏足夠資本支撐的情況下，SNK已無力同時維持街機基板、家用主機與新技術研發，最終不得不選擇收縮戰線。

到2004年，Neo Geo主機正式停產，象徵一個時代的結束。然而，這並不代表SNK精神的消失。公司在重整後，選擇放棄硬體競爭，轉而成為純粹的遊戲開發與發行商，將《拳皇》、《侍魂》、《餓狼傳說》等招牌系列帶到PS2、Xbox、PC等主流平台。這樣的轉型，雖然讓Neo Geo不再以實體主機形式存在，卻也讓其遊戲理念與風格得以在更廣大的市場中延續。

整體而言，Neo Geo的退場並非失敗那麼簡單，而是一場理想與現實的碰撞。它曾是效能與品質的象徵，卻在價格、技術轉型與市場潮流面前逐漸失去立足點。即便如此，Neo Geo仍在遊戲史上留下不可動搖的地位，成為無數玩家心中「最奢華、最純粹的街機主機」代表。

SNK’s eventual withdrawal from the console hardware market was not the result of a single failed decision, but rather the outcome of long-term pressures stemming from its business positioning, technological direction, and dramatic changes in the broader gaming landscape. From the very beginning, the Neo Geo pursued an unusually bold and risky path. While this strategy established its legendary status among dedicated fans, it ultimately became a burden the company could no longer sustain.

The defining concept of the Neo Geo home system was to deliver an almost perfect arcade experience at home. In terms of visuals, sound, and gameplay content, it far surpassed most contemporary home consoles. However, this “arcade-perfect” philosophy came at an enormous cost. Both the console itself and its cartridges were priced far higher than competing systems, with individual games often costing several times more than standard console titles. As a result, the Neo Geo was positioned as a luxury product from the outset, affordable only to a small group of enthusiasts. While this cultivated a highly loyal fan base, it severely limited market penetration and prevented the Neo Geo from developing the kind of mass ecosystem enjoyed by Nintendo or Sony.

By the mid to late 1990s, the industry was undergoing a rapid shift. PlayStation and Sega Saturn rose to dominance by leveraging the low cost and high storage capacity of CD-ROMs, enabling cheaper games, cinematic cutscenes, voice acting, and story-driven experiences that aligned with changing consumer tastes. SNK attempted to respond with the Neo Geo CD in order to lower costs, but the results were disappointing. Long loading times disrupted gameplay, and the library still relied heavily on arcade ports rather than content designed to take advantage of the CD format. Instead of revitalizing the platform, the Neo Geo CD highlighted SNK’s difficulty in adapting to new technological standards.

SNK also struggled during the transition to next-generation hardware. The Hyper Neo Geo 64 failed to effectively carry forward the company’s strengths in fighting games, suffering from a limited library and inconsistent quality that left it unable to compete with rival platforms. At the same time, the fighting game boom began to fade in the early 2000s, as player interest shifted toward RPGs, action-adventure titles, and large-scale 3D games. The rise of emulation and piracy further weakened the arcade-centered ecosystem on which the Neo Geo depended.

Compounding these challenges were SNK’s ongoing financial difficulties. The company faced repeated economic crises, and its attempts to expand into other hardware segments—most notably with the Neo Geo Pocket—failed to achieve commercial success against entrenched competitors like Nintendo’s Game Boy line. With limited financial resources, SNK could no longer afford to maintain multiple hardware platforms while simultaneously investing in new technologies, forcing the company to scale back its ambitions.

In 2004, SNK officially discontinued the Neo Geo console, marking the end of an era. However, this did not signal the disappearance of SNK’s creative spirit. Following restructuring, the company abandoned hardware manufacturing and repositioned itself as a third-party developer and publisher. Iconic franchises such as The King of Fighters, Samurai Shodown, and Fatal Fury were brought to mainstream platforms like PlayStation 2, Xbox, and PC, allowing a new generation of players to experience SNK’s games.

Ultimately, the Neo Geo’s exit from the hardware market cannot be reduced to simple failure. It represents a collision between idealism and market reality. The Neo Geo stood as a symbol of uncompromising quality and performance, yet gradually lost its footing amid high costs, technological transitions, and shifting consumer trends. Even so, it retains an unshakable place in gaming history, remembered by many as the most luxurious and pure expression of the arcade experience ever brought into the home.