Nintendo is working on a new game console codenamed 'NX'

Nintendo first announced the upcoming NX during a press conference, where Nintendo chief executive Satoru Iwata promised that the NX would be "a dedicated game platform with a brand-new concept," according to Engadget.

Nintendo is still keeping the NX largely under wraps for now, but Iwata promised Nintendo would reveal more information about the new game console "next year."

It was also revealed during the press conference that Nintendo would be partnering with Japanese mobile gaming company DeNA to bring Nintendo characters and games to smartphones, which will mark Nintendo's first entry in the mobile games market.

In the past, Nintendo has chosen to tackle the mobile space through its portable game consoles such as the Nintendo 3DS, but the partnership with DeNA paves the way for Nintendo games to arrive on iOS and Android.

Iwata assured the audience, however, that Nintendo was still interested in making game consoles, explaining that NX would exist alongside the Wii U, 3DS, PC, and other mobile hardware including tablets and smartphones.

"As proof that Nintendo maintains strong enthusiasm for the dedicated game system business, let me confirm that Nintendo is currently developing a dedicated game platform with a brand-new concept under the development codename 'NX,'" Iwata said.

You can watch Nintendo's official announcement of the NX below.