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IMHO it makes more sense to launch them at the same time (if they can provide enough software for both of them):

  • One big marketing campaign for both products is more efficient than two smaller ones.
  • Nintendo needs a successful launch with impressive adoption rate to get the gaming press on their side. With 2 different products sharing the same platform, the adoption rate will be higher (some people prefer home consoles, others prefer handhelds) than with separate launches
  • neither handheld fans nor home console fans will be pissed that they have to wait longer for "their" system
  • if there are some connectivity features between both devices, you don't have to wait for the second device to try them out
  • Nintendo could offer a bundle of both, many Nintendo fans would buy it