Project Cafe NEWZ(updated everyday)
---NINTENDO JAPAN HAS CONFIRMED THAT A NEW CONSOLE IS BEING DEVELOPED AND WILL BE SHOWCASED AT THIS YEAR'S E3 IN JUNE!!!!!!!!!--------------------------
SOURCES SAY THAT IT MAY BE CALLED NINTENDO WII-STREAM!!!!!!!---------------
A few years after the Wii was released, speculation was raised about Nintendo's next home console. Initial beliefs[by whom? were that the new console would be an enhanced version of the Wii, named the "Wii HD" and would have high-definition video output along with a Blu-ray Disc drive built in with a release in 2011. However, Satoru Iwata later stated that he saw "no significant reason" to include HD in the Wii console, and that such an addition would be better suited for a successor. Shigeru Miyamoto also expressed Nintendo's interest in working with HD graphics, but clarified that the company is primarily focused on the gameplay experience. In October 2009, Miyamoto said that they currently had no concrete plans about a successor yet, but knew that the successor would possibly still feature motion controls and expects its interface to be "more compact" and cheaper. Satoru Iwata also mentioned that the Wii's successor might be 3D-compatible, but concluded that the adoption rates of 3D televisions should increase to at least 30% first.
In 2010, Nintendo of America president Reggie Fils-Aime commented that he felt "confident the Wii home entertainment console has a very long life in front of it" and declared that a successor would not be launched in the near future. At the E3 2010 presentation, Iwata revealed to the BBC that they would begin announcing a new console once Nintendo ran "out of ideas with the current hardware and cannot give users any more meaningful surprises with the technology [they] have". Later, at an investors meeting, he disclosed that they were "of course studying and developing the next console to Wii", but they were simultaneously keeping its concepts secret because it was "really important for [his] business to positively surprise people". Regg
ie Fils-Aime commented in a CNN article and claimed that Nintendo's next home console will not likely feature stereoscopic 3D, based on what 3D technology Nintendo has experimented with.
In April 2011, one unnamed source has indicated that Nintendo is planning on unveiling the successor to the Wii during the 2011 E3, which will be capable of running in HD resolutions and will be backward compatible with Wii software. It has also been rumored[who?] that the console will feature an all new controller with a built in high-resolution screen. The console is allegedly[who?] due to be released in late 2012 (more specifically in June 2012 in Japan according to 01net).
The origin of the rumor for the codename (and many other details) was French technology publication 01net. 01net had previously revealed the technical specifications of Sony's Next Generation Portable before it was announced. Claims have been made[who?] that the new machine is significantly more powerful than the PlayStation 3 and Xbox 360. It is likely that the new console will feature resolutions as high as 1080p. However, many unreliable sources doubt that it will feature 3D graphics like Nintendo's latest handheld, theNintendo 3DS. 01net also claims to know some of the technical specifications of the new console (translation from Develop): "CPU is custom IBM PowerPC with three cores, GPUshould be an ATI from the R700 family, with a shader unit at version 4.1. RAM should be at least 512 MB." However, there are conflicting reports on these specifications from various sources. One of those sources (IGN) has claimed the new Wii to be significantly more powerful than an Xbox 360, while the French technology publication 01net claims it will only be a notch above.
According to Edge, THQ president Brian Farrell allegedly told investors, "We don't expect new hardware any time soon from either Microsoft or Sony. It's different on Nintendo – we'll let them announce their new hardware". Nintendo has not commented on the claims, saying only that "Nintendo does not comment on rumors or speculation". According to CVG, a Nintendo of America representative (when questioned about the new console) allegedly signed off an email to GameInformer with "Stay tuned". It is not known why CVG reported this instead of Game Informer, whom the email was allegedly sent to.
NOTE- Copied from wikipedia