Console game is a loose term to describe any game played on a dedicated non-portable gaming device, such as the Nintendo Wii or the Xbox 360. Retail console games are typically sold on disc and are expensive (to create and to purchase). Downloadable console games (such as through Xbox Live) are usually cheaper than their retail counterparts.
Console games enjoy a premium/blockbuster status within the games industry, and so are the venue for key releases, with some selling 20m units or more. However there is much evidence to suggest that mid-level console publishing is doomed.