Why GTA V is not going to be next gen

Grand Theft Auto V, the highly anticipated next installment of one of the worlds most popular franchises, was initially announced for a "Spring 2013" release date for the Xbox 360 and PlayStation 3. Fast forward a few months to the start January, Rockstar Games made a promise of unveiling the official cover art and fast forward to the end of January; Rockstar all but scrapped the plans to unveil the cover art by the end of January and instead, announced that the game would be delayed until September 17, 2013; citing the need for "extra development time" as well as "additional polishing"