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Nintendo DS (2004) [2 years]
Nintendo DS Lite (2006) [2 years]
Nintendo DSi (2008) [2 years]
Nintendo DSi LL (2009 but it's just bigger screens)
New handheld (2010 in Japan) [2 years]

Makes perfect sense, right? The DS is selling well but Nintendo won't wait for Sony to launch the PSP2 first (this would be a disadvantage).

New Nintendo console in 2010 = impossible but a new handheld is very likely in my opinion.