Take-Two: New consoles to sell over 80million each

Take-Two boss Strauss Zelnick has claimed that the PlayStation 4 and Xbox One will outsell their predecessors in just five years.

The PlayStation 3 and Xbox 360 have sold 80 million consoles each, but Zelnick said that figure would be reached by 2018.

"It appears that - and this is largely anecdotal but tablets are a good example - all these new iterations of more and more exciting hardware seem to have picked up in velocity generationally compared to five or 10 years ago," he said at the Credit Suisse 2013 Technology conference.

"But if we had a big market meltdown, for example, a repeat of 2008 and 2009 in three years, or two years, or two minutes, that would influence it. But if this economy stayed on this track, yeah, I feel good about it."

The PS4 and Xbox One have got off to good starts after launching. The PS4 has sold 2.1million units so far while the Xbox One sold 1million units in 24 hours.

Both consoles are expected to shift five million units by April 2014.