CVG reports that Nintendo has today confirmed in an investor update that the Wii’s successor is on the way. Here’s the full quote from the update, which is titled “Wii’s Successor System”:

“Nintendo Co. Ltd has decided to launch in 2012 a system to succeed Wii, which the company has sold 86.01 million units on a consolidated shipment basis between its launch in 2006 and the end of March 2011.

We will show a playable model of the new system and announce more specifications at the E3 Expo, which will be held June 7-9 2011 in Los Angeles.”
It was obvious a big announcement was on the way from Nintendo as rumours had grown considerably about a new console over the past few weeks. Looks like we’ll have to wait until E3 to find out if the console will be completely rebranded or still have the Wii name attached to it. Its current code name is “Project Café,” according to CVG, who also list some of the new console’s specs: “a custom IBM Power PC CPU with three cores, a GPU from the ATI R700 family with a shader unit at version 4.1, and at least 512MB of RAM.”