New Nintendo HD Gaming Console May Be Coming Soon

Nintendo may be releasing their first new gaming console in five years, according to Game Informer.

The site confirmed "with multiple sources" that the Wii-follow up will be revealed at the E3 video game conference this summer, or even earlier. It also reports that the system will feature HD resolution, though cites "conflicting reports" as to how graphics quality will compare with competitors Xbox 360 and PlayStation 3.

Nintendo has apparently already begun to show video game makers the system beforehand so that they can begin to develop games, a shift from Nintendo's traditional reluctance to cooperate with third party publishers.

"Nintendo is doing this one right," anonymous source told Game Informer. "[It's] not a gimmick like the Wii."

It has also been rumored that Nintendo will decrease the price of the Wii to $150 from $199 come May 15, which would be consistent with the release of a new system.

It is unclear whether the new system will be compatible with the Wii, or be branded as a Wii. Nintendo declined to say anything other than, "Nintendo does not comment on rumors or speculation."

The Wii has sold 86.3 million units since its introduction in 2005, though sales in 2010 dropped to 7 million in the U.S. from 9 million the year before.