"We don't expect new hardware any time soon from either Microsoft or Sony," says Farrell

THQ's Brian Farrell told attendees at the Goldman Sachs Technology and Internet Conference yesterday that the firm doesn't expect new consoles "anytime soon from either Microsoft or Sony".

However, Farrell said that as far as this pertaining to Nintendo, THQ will "let them announce their new hardware."

"It used to be that investors would play the console cycles - a new console would mean a period of hyper growth in the industry," said Farrell. "Now that games costs have gone up so much, these cycles have gotten longer, so it's harder to understand how to play the console cycle. The other thing that's difficult for investors, but we're starting to get more visibility on it, the transition we're going through right now, is more of the packaged goods to the digital.

"And it's hard for people to understand: What does that really mean in terms of revenue profitability. Now we're seeing some of these business models emerge like free-to-play, hybrid, DLC as part of the console eco-system... People know get how that's going to work and they're going to make money from them."

"We don't expect new hardware any time soon from either Microsoft or Sony. It's difficult on Nintendo - we'll let them announce their new hardware.

"What we like about now is we've put most of our capital behind the 360 and PS3 for the next couple of years and that's where we think the action's going to be. So between those two platforms on the core side and the uDraw for us on the causal side, that's how we think we're going to make money."

While Nintendo has repeatedly said it is always looking at new hardware, but has nothing to announce at present. However, last year, Metroid creator Yoshio Sakamoto’s told a Spanish website that the next home console from Nintendo will “leave your mouth open.”

Thanks, CVG.