New Nintendo Platform Teased at Conference, "NX"

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Nuvendil said:

Those saying NX is a sure fire 2016 launch forget that grumblings about Wii U started before it's 2011 prototype reveal. Which was followed by a 2012 finalized Reveal and holiday launch. Wii, same thing: teased in 2004, prototype reveal 2005, full reveal 2006 and launch in holiday 2006. This casual reference was for one reason: nip the rumors of hardware abandonment in the bud. Iwata even pointed this out multiple times.

And that's exactly part of the problem. The sooner they release the better. 3DS won't maintain great sales until 2017, so a holiday 2016 launch seems likely. Also, in 2014 Iwata mentioned that they needed around 2 years to show a new way of "changing gaming" or so.

Their strategy with Wii U announcing it 2 years before release, and a complete year without news didn't went right.