Reports as of today are that Nintendo is expected to unveil their newest home console in June at the E3 Expo.  As of now there are only a few rumors going around about the new system, tentatively named "Wii 2".

1.  The system will be backwards compatible, playing standard Wii games.

2.  It will be capable of running games at true High Definition, 1080p.

3.  There will be an all new controller designed with a built-in touch screen.

4.  The operating system will be more powerful than those of the Playstation 3 and X Box 360.

5.  Nintendo is hoping for a late 2012 release.

Nintendo is expected to release more information about the system before the end of the month, with the full reveal in June.  Start saving up now!