Nintendo Japan confirmed it will release a new game console, Condename "Project Cafe," in calendar year 2012 that will be fully announced and playable at E3 this coming June.
"We will show a playable model of the new system and announce more specifications at the E3 Expo, which will be held June 7-9, 2011, in Los Angeles."
Unconfirmed but probable specs:
"Significantly more powerful" than the Xbox 360 and PlayStation 3, and backwards compatible with current Wii software. It will feature a tablet-shaped controller that has a 6-inch touch screen display in the center, dual analog sticks, and has the ability to stream content directly from the console wirelessly.
Based on a revamped version of AMD’s R700 GPU architecture. Like the Xbox 360, the system’s CPU will be a custom-built triple-core IBM PowerPC chipset, but the clocking speeds will be faster.
Full 1080P High Definition Display
Price point of around $350-$400