Xbox 720
Sources familiar with the company's plans have reportedly said Microsoft's Xbox 720 could debut during the holidays in 2013. IBTimes

Next-generation consoles such as the Xbox 720 and PlayStation 4 won't be available for a while, but Nintendo is already boasting that the Wii U will support some high-end graphical power.

Nintendo President and CEO Satoru Iwata said he believes that the Wii U will not have a problem keeping up with Microsoft and Sony's next-generation consoles in terms of power, according to BeefJack.

My impression is that the things that happened with Wii v 360 or Wii v PS3 won't happen again, he said. If they decide to increase spec numbers, will the consumers be able to realize the difference enough so that they can understand it's much superior to today's machine? And also, if they beef up the processing power, that simply means much more work for software developers to take advantage of those spec numbers.

Satoru also added that it's difficult to predict exactly what the next generation of gaming will bring until the companies confirm their plans for the upcoming PlayStation and Xbox.

So I have to ask the question if that type of differentiation really makes sense. But I think further arguments must wait until probably next year, when they have finalized and disclosed whatever they are thinking about for the next generation of consoles.

However, competition isn't the Nintendo president's main priority, as he said to the Telegraph.

I never think in terms of how we can compete against other companies, rather our primary focus is to make consumers feel the uniqueness and attractiveness of our products, he said to the UK-based publication. So any improvements in graphics are just a portion of what we want people to enjoy from Nintendo. More importantly, I want people to say Nintendo are offering unique experiences.

Nintendo certainly has somewhat of an advantage against competitors since it will be released at least an entire year in advance of its rivals. But for some critics and fans, the company's E3 presence didn't leave enough of a lasting mark to coerce them into purchasing a Wii U.

Throughout Nintendo's presentation on Tuesday, I did not see any one thing that had me say to myself, 'This is why I need to buy a Wii U, wrote Scott Grill of Examiner.

Nintendo unveiled a list of 22 games that will be released for the Wii U, but little is known about which titles will be available for the Xbox 720 or PlayStation 4. Electronic Arts has already weighed in on the matter, saying that it plans to release some more big-budget reboots.

Syndicate was something that we took a risk on, EA's Frank Gibeau said to CVG. It didn't pay off-it didn't work. But in general it does change my appetite for wanting to go look in the library and see what we have and maybe bring back some IPs for the next-generation. That's the nature of the business, some stuff works, some doesn't.

Gibeau also told CVG that there are three to five next-generation projects in the works that the company deliberately withheld from E3 2012.

I can tell you right now there's between three and five new IPs that we're working on that we're thinking about for the next-gen., he said. Some of them might come to market, some might not.

It is unclear exactly which titles will make it to the next-generation Xbox, but the Official Xbox Magazine offered some speculations on blockbusters that might transfer to the 720. The list included titles such as Beyond Good And Evil 2, Thief 4, Prey 2, Grand Theft Auto 5, and Half Life among others. Be sure to head over to OXM to see the full list for yourself.