THQ boss: new hardware is the last thing the industry needs

Though the videogame industry often relies on hardware sales to drive the bottom line, at least one executive thinks “soon” isn’t the right time for new consoles.

THQ President and CEO Brian Farrell said the arrival of PlayStation Move and Kinect will help the gamer audience grow and extend the life of the current generation of consoles.

“Frankly, the last thing I think the industry needs now is new hardware. You look at the games coming out on PlayStation 3 and Xbox 360 now and they look stunning,” Farrell said in a recent interview. “If we were to have another $1000 box that the hardware guys have to subsidize and that software developers have to spend even more money developing, that model just doesn’t work.”

“So to have an extended cycle with a broader audience I think, strategically, is exactly the right way to go, and Move and Kinect are both designed to do that,” he said. “The market will decide if one or both of those will work, but I love the concept of both hardware guys trying to broaden the audience beyond just the core consumer.”

Do you agree? Have you purchased PlayStation Move? Do you plan to pick up Kinect when it releases next week?