Dec 01, 2016 05:27 AM EST By Don Don Navidad, UniversityHerald Reporter

CEO of Take Two, the publisher of the GTA franchise, stated that the rapid console refresh cycles that have led to the PS4 Pro, Xbox One S, as well as the forthcoming Xbox One Scorpio, is good for the gaming industry, as these gaming systems are generating new business.

While Take-Two Interactive Software President Karl Slatoff was at the Credit Suisse 2016 Annual Technology Conference in Phoenix, the CEO discussed his sentiment on the new gaming systems. Slatoff stated that from time to time a new hardware emerge and that's a good hardware.

Take-Two CEO thinks that all the devices in the market are actually good, and beneficial for the consumer. These hardwares are different enough that Slatoff thinks it's a compelling value proposition for the game enthusiasts. Slatoff also said that the new hardware in the system along with a compelling value proposition is a good thing for their business, DualShockers reported.

On the other hand, it's going to be another year yet before Microsoft rolls out its next-gen console, dubbed as the Xbox Project Scorpio. So for the next 12 months, the most powerful gaming console a person will be able to purchase is the PlayStation 4 Pro.

Still, that doesn't mean the gaming console is worth the upgrade. Nevertheless, one of the PS4 Pro's biggest draws is the console's ability to handle 4K HDR video, a gamer won't get much out of it if that person don't already own a matching 4K HDR set. So if a person already owns a regular PS4 and a 1080p set, a person has no immediate reason to upgrade, according to Engadget.

That being said, Xbox One S and PS4 Pro both buoying the sales of gaming system this year worldwide, while the launches of the Nintendo Switch and the Xbox Scorpio in 2017 can continue the trend.

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