Nintendo is currently working on their upcoming console, codenamed NX. However, a report from Polygon cites that a financial report indicates that Nintendo may also be working on a brand-new handheld device that could replace the New 3DS. This new handheld is codenamed the "MH" in the report. 

According to the report, the MH is described as a next-generation handheld game device but its functions are not yet definitive. It is speculated that it may be a stand-alone unit similar to the 3DS or it may be a unit that works in junction with the NX. It is also speculated that it is a handheld device that controls the NX or is a part of the NX's ensemble. 

The report continues to state that a Wall Street Journal report from last year indicated that the NX is going to be compatible with at least one handheld device. At the time it was speculated that the NX may have new features when connected to the 3DS or that the NX itself may be a console-handheld hybrid. 

However, these rumors have since been shot down by Kantan Games CEO Dr. Serkan Toto. Dr. Toto posted via Twitter that the financial report is merely for a "hypothetical scenario" that investors and other companies can utilize to plan ahead. It is merely a case of the people in charge postulating a possible scenario and not a confirmation of a new device.

Toto further states that Nintendo has no official device in development that is codenamed MH. Instead, it is merely a term that the financial analysts assigned to the hypothetical device to make conversations and postulations easier to discuss. 

Fans, however, speculate that the mere fact financial departments are picturing a scenario where Nintendo may announce a brand new handheld device means that there is a high possibility of it actually happening. The Nintendo 3DS may have seen an upgrade with the New 3DS but the device has been out since 2011 and it may be time to replace it with a more powerful handheld game device.