Analysts say even if GTA V releases in 2012, it won't curb industry decline 

Industry analysts have said even if Grand Theft Auto V should miraculously release this year, it won't curb sluggish industry sales.

Speaking with VentureBeat, Robert W. Baird & Co's Colin Sebastian said while he isn't confident the game will be out this year, if Take-Two should surprise us all and release it, console software sales would still be in a modest decline.

"Given the current momentum of the market, I doubt any major releases, even one of GTA V's size, would push the physical markets back into the positives," said EEDAR analyst Jesse Divnich in agreement. "The traditional gaming sector is under an enormous amount of downward pressure at the moment, and it will require a strong catalyst to shift that momentum."

Wedbush Securities analyst Michael Pachter said while GTA V could accumulate $700 million in sales, it would still only amount to "less than 10% of the expected overall software sales this year," industry sales are down more than that, year-to-date.

While it's been suggested GTA V could release during T2's financial year ending March 31, 2013, the firm has yet to confirm when it plans to release it. Going by past releases in the franchise and from Rockstar in general, it will release "when it's ready."