THQ's CEO Brian Farrell doesn't see the need for a new generation of consoles just yet.

Farrell explained to IGN

that he feels that the days of to produce faster consoles with better graphical fidelity are gone and the time has come for creating new gaming experiences.

He began: "Frankly, the last thing I think the needs now is new hardware. You look at the games coming out on PlayStation 3 and now and they look stunning. "The boss continued: "What's the proposition for the person shelling out the $300-$400 for the system and the $60 for a game, what is value proposition for that gamer? Better graphics? They're pretty darn good now... Where it's going to be is in the play experience; richer stories, better characters, production values that are much more like movies. I think that's the direction, rather than technology and graphics. I think those days are over."

By Ewan Aiton