Hate to say it but I think the console business has basically passed Nintendo by. They won't be a big player on the console side ever again, they just don't have the marketing/demographic know how and are too far out of touch with the majority of the Western consumers and developers (which is basically the entire console business now), being a company pretty much run entirely by 60-70 year old Japanese men.
Their next "console" will probably just be a low-cost mini-console that is basically just their next-gen handheld chip that runs on TV at a higher resolution. It will play the same games as the handheld. Like the Vita TV (except VitaTV runs at the same low-res as the Vita). Probably with some new controller gizmo designed by Miyamoto and co. which will be low-cost.
Such a proposition will be cheap and low risk, so it can find "success" even if it only sells 20 million units on top of the handheld selling 50-60 mill (on the low end).
I think their play in the future is to become more of a media/toy company utilizing their IP in other ways to get kids hooked on their brand at an early age. Like say a Mario CG movie for example, more animated series' for other Nintendo properties and expansion of the Amiibo toy brand would probably be a good way for them to go.
