Pachter: Industry Sales Will Continue to Decline Until Next-Gen Consoles Launch

Video game sales aren’t quite as high as they once were, and Wedbush Securities analyst Michael Pachter believes that the only cure is new hardware from Sony and Microsoft.

According to a report from GamesIndustry, Pachter included a note alongside the NPD preview, which said the following:

We expect October – December to be relatively flat, and expect a return to negative territory again next year, at least until the launch of a next-generation console from Microsoft or Sony.

A new console cycle is likely to reverse the negative sales trends of the last several years, with next-generation consoles expected from each of the three manufacturers over the next 18 months.

Pachter then went on to reinforce the fact that he remains confident that the PlayStation 4 will launch holiday 2013. As for Microsoft’s new console, the analyst believes we’ll see the next Xbox by March the following year.

What do you think? Does this industry desperately need new hardware? Let us know in the comments below.