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I think the handheld and the home console will be one generation apart in power, and they will have the same games, the difference is that on the home console the games will look like The Last of Us for PS4, and on the handheld like the Last of Us for PS3.
So, Nintendo will only make one Mario Kart or Smash Bros, not 2 (one for handheld and one for home console), and they will dedicate the free time to making new games.