Nintendo, one of the world's largest gaming companies, is said to be launching a new gaming console.

Based on the rumors going around, Nintendo's next console will be called Nintendo NX and will most likely be launched next year.

Tech Radar is saying that based on the handheld prototype design it saw a few weeks ago, the rumors about the Nintendo NX being a fixed and also a portable device could be possible.

This is confirmed further by Takashi Mochizuki, a reporter for The Wall Street Journal, in his twitter post saying that the Nintendo NX will likely be a system of two devices. Mochizuki also added that aside from being released in 2016, the new console will be coming out with a much stronger processor. Mochizuki wrote on Friday that though the exact design of the device is still unclear, Nintendo has already started distributing software development kits for the Nintendo NX.

According to a source of Kotaku, Nintendo is doing this move to reach more developers for the platform this month. Kotaku has not, however, confirmed yet this schedule with Nintendo, even after they reached out to the gaming company. Kotaku is saying that all that they have from Nintendo so far is that Nintendo will not say anything more about the NX until next year.

As for how much the new console will be sold in the market, Game Zone has reported that according to Kevin Callahan, Nintendo NX will most probably be priced at $149.99. Callahan, who previously talked about "Diddiy Kong Racing 2" being developed for Wii or 3DS is now saying that the game will now be moved to Nintendo NX and will possibly sell it at a low price.

Callahan's statement follows Shigeru Miyamoto's comment that Nintendo NX can possibly be Nintendo's way of making up for the expensive cost the users of Wii U has encountered. He said that Nintendo is "constantly trying to do unique and different things." and that the gaming company is trying to "create a system that is both unique and affordable." Miyamoto, is known for the games he made for Nintendo like "Mario," "Donkey Kong," and "The Legend of Zelda" among others.