Nintendo says the NX will change video gaming. Courtesy/Nintendo

Nintendo announced it was working on its next-generation console last week, and company president Satoru Iwata recently revealed new details about the device, hinting that the Tokyo-based video game conglomerate may change directions with its next endeavor, codenamed NX.

In an interview with Japanese business outlet Nikkei, Nintendo President Satoru Iwata refrained from discussing the console too much, though he did accuse existing hardware of being somewhat boring.

"However, if you only expand upon existing hardware, it's dull," Iwata said. "In some shape or form, we're always thinking about how we want to surprise players as well as our desire to change each person's video gaming life."

It appears that Nintendo isn’t ready to throw in the towel just yet. Some speculated that the 126 year-old company may eventually give up hardware and focus on software instead, but the company surprised the industry with the NX on March 17.

Iwata also denied that Nintendo’s future would be entirely in the mobile industry, like many analysts suspected, and that Nintendo is still in the “dedicated video game system market.”

"Nintendo has decided to deploy its video game business on smart devices, but it is not because we have lost our passion or vision for the business of dedicated video game systems,” Iwata said on March 17.

"As proof that Nintendo maintains strong enthusiasm for the dedicated game system business, let me confirm that Nintendo is currently developing a dedicated game platform with a brand-new concept under the development code name NX,” Iwata added. He said more information regarding the console would be revealed next year.