With Nintendo struggling to compete with Sony and Microsoft, a lot of fans are wondering whether the company can keep up. Along with the announcement that Nintendo will partner with Japanese mobile game company DeNA, President of Nintendo Satoru Iwata let it slip that the company is also developing a new gaming system codenamed NX.

Iwata did not discuss extreme details about the new system, saying that Nintendo is working hard at it and will probably be officially released at E3 in 2016. Iwata continued to say that NX would be a "brand-new concept" and that it would not directly related to the service platform.

"It is too early to elaborate on the details of this project, but we hope to share more information with you next year," he said.

With the Wii U still struggling on the market, fans are wondering if the NX is looking to be the company's saving grace. According to Mashable, the Wii U has sold 9.3 million consoles since it November 2012 launch. Compared to the PlayStation 4 sales of 20.2 million units since 2013 and Xbox One's 10 million sales in 2014, Nintendo is looking to find more ways to keep up with their competition.

While fans speculate about whether the NX will be a new console or hand held gaming device, Iwata said that it plans to keep up with the times and release mobile games that star famous characters like Mario and Pikachu.

"Now that we have decided how we will make use of smart devices, we have come to hold an even stronger passion and vision for the dedicated video game system business than ever before," he said.