They could release a new phone every 2-3 years, that's not really a big deal.
Where they should focus on is having a nice, vibrant high-quality display for the phone model and a very nice quality camera.
Casual/phone users DO notice those two things.
Smartphone chips and components are so commoditized that it's no big deal, Nintendo could get good components for cheap.
Look at some of those small Chinese companies, they offer phones with high end cameras, high end chipsets, and good displays for like 1/3 the cost of an iPhone.







