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Analyst: Next console cycle isn't coming until 2013

Compared to last Spring's outlandish software sales figures (fueled by the release of Super Smash Bros. Brawl and GTA IV), this year's stats aren't inspiring much confidence in gaming industry investors. In fact, many are anxiously awaiting the launch of new hardware to provide a quick sales boost -- but according to industry analyst Michael Pachter, they shouldn't hold their breath: By his estimation, new hardware won't be hitting store shelves until at least 2013.

Pachter said that publishers would be hesitant to adopt new hardware considering their investments in the current console cycle have yet to adequately pay off. There's one exception -- Pachter expects the oft-rumored high-definition Wii may appear some time in 2010.

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