X in Japan literally means "cross" (see above). Two intersecting lines (the portable line and the console line). 

The Nintendo Nexus.

It will be a console, it will be a handheld, it will be a software platform that allows you to keep track of your smart phone, PC, console and handheld games all in one place.

NX is basically nothing. It's just two letters to us. Nintendo is definitely making a new home console and a new handheld console. The only question is which one of these they will reveal in 2016, since they have confirmed that at least one will be shown next year.

I can't imagine them making it all the way to 2017 without revealing their next handheld. There's been a 3DS remodel almost every year of its life, and both New models released in 2014. Either they have another remodel planned (which would greatly surprise me), or the successor is imminent. For this reason I believe NX is a handheld. It doesn't make any sense to me for Nintendo not to announce a new handheld next year.

Iwata has already shot down speculation about their next home console and handheld being one device. Although they will be very closely related (perhaps functioning as a single "platform"), they will be two distinct consoles.

What if the NX is some form of virtual reality?

I believe the NX to be a successor to the 3DS. It will also be compatible to stream with the Wii U (similar to the Vita with the PS4). Although seeing as Nintendo has stated that two gamepads are possible to be used on the one Wii U, they have not pursued this idea. Maybe the NX will be a way that they can do this. It can play with the Wii U for multiplayer games, stream them, as well as being a handheld on its own.

FUSION

I think i'll be a handheld

Oh, and i'm new to this forum. Hello?

Welcome to VGChartz!
Hi handheld, it is nice to meet you ;)
We do not normally get electronic devices around these forums, so this should be a breath of fresh air.

NX

Nintendo Cross? Cross console?

Fusion may indeed happen.

A handheld with a HDMI-HDMI mini cable? Very possible. Could still be relatively cheap for a home console and reasonably priced for a combined console.

Should be expensive for a handheld though considering it really isn't, in all honesty.

It will be the 'Fusion' concept.
A portable gaming device that supports the Quality of Life program;
Will have dedicated games, mobile crap games, apps.

Will probably be more digital sided than physical.

I think The Folks at Nintendo are asking themselves the exact same question right now! =D