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With Declining Game Sales, When Will The Next Xbox and PlayStation Release?

Video games sales continue to be slow this year, U.S. retail sales of video-game software, hardware and accessories dropped by 20 percent last quarter, according to researcher NPD Group Inc.

The gaming industry is currently in decline as buyers move toward purchasing digital downloads and are gravitating towards playing games on social networking sites. In the second quarter the industry experienced an overall decline of 16 percent, earning $1 billion for the quarter. Digital content rose by 17 percent to $1.47 billion, according to the NPD.

Hardware sales had the largest decline, as sales fell 32 percent from the same period as last year. It appears that Nintendo's handheld division is bucking the trend of declining sales and has experienced an increase in retail sales for handheld systems.

 "Of the hardware platforms that were on the market last July, only one, the 3DS, realized a unit sales increase over last year," Anita Frasier, an analyst for U.S. retail tracking firm NPD, said. "Both the DS and the 3DS, however, realized a month-over-month unit sales increase over June 2012 while the other platforms declined."

Microsoft's Xbox 360 continues it 19 consecutive month of leading console sales, for the month Xbox 360 sold 203,000 units in July, According to a statement from Microsoft. Last July Xbox 360 sold 277,000 units.

Expectations are that retail sales will increase once the new consoles are released in the fourth quarter of 2013 from Sony and Microsoft, although neither company has provided any information on new consoles. Nintendo is due to launch the Wii U sometime this holiday season, but have yet to set a date or price.

Here are the top selling games for the month of July, according to NPD.

1 NCAA Football 13 (360, PS3) - Electronic Arts

2 LEGO Batman 2: DC Super Heroes (Wii, 360, DS, PS3, 3DS, PSV, PC)

3 The Amazing Spider-Man (360, PS3, 3DS, DS, Wii)

4 Just Dance 3 (Wii, 360, PS3)

5 Batman Arkham City (360, PS3, PC)

6 Call of Duty: Black Ops (360, PS3, DS, Wii, PC)

7 Assassin's Creed: Revelations (360, PS3, PC)

8 NBA 2K12 (360, PS3, Wii, PSP, PS2, PC)

9 Call of Duty: Modern Warfare 3 (360, PS3, Wii, PC)

10 Dead Island (360, PS3, PC)

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