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Soundwave said:

http://www.neogaf.com/forum/showthread.php?t=818167

Basically in a past investors meeting Iwata told investors that in the future Nintendo must embrace a hardware/software ecosystem similar to what the iPhone/iPad/iPod Touch have, where you have one app ecosystem and hardware that run all the same apps and the hardware lines are no longer distinct like the 3DS/Wii U are but "brother" devices. 

In a successive investor meeting Iwata told investors that this "redefinition of gaming" will require about two years for Nintendo to bring to market (he said this in May 2014). 

Nintendo also recently filled a job hiring report seeking someone with experience with low power mobile chip components for their next-gen hardware department. This hints very, very strongly at their next-gen platform using mobile (ie: smartphone/tablet) components and that is reaffirms the concept of a "fusion" platform. 

These are not "rumors", all these things have happened. "Fusion" is just a name that people use as a temporary placeholder to describe this concept.

Redefinition of gaming refers:

"However, we feel that we have taken a step in the right direction as we now have a uniformly managed system in which we are connected with our consumers on both handheld devices and consoles.
Of course, when we do launch new hardware in the future, rather than re-creating an installed base from scratch as we did in the past, we wish to build on our existing connections with our consumers through NNIDs and continue to maintain them. Another very important point that we need to consider is how we will incorporate smart devices into Nintendo platforms, which were composed solely of Nintendo hardware in the past.
The traditional definition of a video game platform imposed a restriction in which we were unable to connect with consumers unless they purchased a Nintendo system. Given that the competition for consumers’ time and attention has become fierce, I feel that how we will take advantage of smart devices is an extremely important question to answer. However, in order to be absolutely clear, let me emphasize that this does not mean simply supplying Nintendo games on smart devices. Taking advantage of smart devices means connecting with all consumers, including those who do not own Nintendo’s video game systems, through smart devices and communicating the value of our entertainment offerings, thus encouraging more people to participate in Nintendo platforms. I will elaborate on this point later.
As I just illustrated, we will manage our relationships with our consumers through NNIDs in a uniform manner, and connecting with our consumers through NNIDs will precisely be our new definition of a Nintendo platform.
In other words, our platform will not be bound to physical hardware and, instead, will be virtualized."

source: http://www.nintendo.co.jp/ir/en/library/events/140130/03.html

nintendo was looking for SoC expert

http://nintendonewsfix.com/nintendo-looking-lead-graphic-architect-next-gen-consoles-system-chip-experience-required/