Analysts: GTAIV was not a console seller

No matter how much retailers, Microsoft or general sales figures have correlated Grand Theft Auto IV's stellar sales success with new hardware sales, the ever knowledgeable video game industry analysts just aren't buying it.

In a preview of May's NPD sales, the analytical crew over at Lazard Capital Markets and Wedbush Morgan securities are reporting that GTAIV's tremendous software sales in May did not result in a "meaningful increase" for either the Xbox 360 or PS3 as was previously expected. "We do not believe the recent release of GTA IV has generated meaningful incremental demand for the Xbox 360 or PS3 platforms" commented Colin Sebastian of Lazard Capital Markets, suggesting that an actual hardware price cut would generate a more noticeable increase in demand.

Sounds to us like GTAIV wasn't the big console seller that Microsoft wanted to be, which is too bad. Though, we have a hunch Rockstar is more than happy with the truckloads of cash GTAIV has dumped on their lap.

This article was originally published on Joystiq.