Nintendo president Satoru Iwata has stated that the company hopes to reveal the next iteration of the Zelda franchise on Wii U in the not-too-distant future. Iwata stressed that Nintendo is concentrating on developing and marketing The Legend of Zelda: Wind Waker HD for Wii U. Presumably once that is it out-of-the-way then they will be ready and able to show off the new Zelda title for Wii U.
“It is true that Mr Aonuma’s team has been working on a new Zelda title for the Wii U. But the only announcement we have at this time of software which will soon become available is WindWaker HD. But they are actually working on an exclusive new Wii U title in the Zelda franchise and I hope in the not-too-distant future, we will be able to make the relevant announcement.”