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Mashable have reported that Nintendo could be revealing the Wii 2 as early as this summer. It will apparently run on a PS3-shaming AMD’s R700 GPU. It should also do 1080p and maybe even stereoscopic 3D standing up and there’s also a repeat of the IBM PowerPC three-core processor business.

Some sites have even received possible leaked photos of the new machine.

The new console is rumored to be faster and more powerful than either the Xbox 360 or the PS2. But with the Xbox’s Kinect now gaining popularity Nintendo may be making a quick strike to recapture the gaming market.

Kotaku also reports that Sony and Microsoft are not planning any new gaming consoles until 2014 at the earlier. The prices bandied about vary from $350 (£212) to $400 (£242), which would indicate Nintendo still wants to go the profitable route.

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