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Sega once participated in the video game industry roughly how Nintendo does today, by producing a home console and making first-party titles for it with their established properties like Sonic the Hedgehog. Sega's consoles definitely have fans, but the company was losing money and Sega did not produce another console after the Dreamcast. Today, they do perfectly fine for themselves by making games as a third-party developer and operating other assorted media ventures like merchandising for anime. They're also a major producer of arcade games.

Not the person you are replying to, but I think they are referencing how SEGA ditched home consoles and is now all software and arcades. From what I have heard they are doing extremely well with arcade machines, especially in Japan. I know they make the popular UFO crane game machines.

Sega has been around quite a while but probably referring to when it discontinued console development and shifted gears to creating games for third-party platforms.

Sega used to make consoles; now they exclusively make games.