Nintendo developing new games console called Project NX

During its press conference today, Nintendo has announced that it is developing a gaming-dedicated console, currently codenamed Project NX.

Not only is Nintendo making some major moves such as creating mobile games and launching a new subscription service but the company looks set to develop a new console. So called Project NX will be the company's new hardware. Unfortunately, details are still scarce and the company won't release other info until next year - pointing to a possible launch in 2016.

Nintendo is currently competing with the Xbox One and the PlayStation 4 by offering the WiiU. However, this console is seen as an underperformer compared to its rivals and can't really stand on its own thanks to the older hardware that's inside.

A new device will likely bolster Ninendo's appeal globally as the company will likely be able to out-compete its rivals with newer hardware and still popular IP. Whatever may come, the company is making interesting moves and we'll be watching closely.