SNK is making a new version of its legendary Neo Geo system, it has been revealed.

The announcement came from SNK Corporation chairman Ge Zhihui, who also revealed that a new Metal Slug title is in development for the new console, as well as other systems. The news came during an investor relations press conference in Seoul.

While it's not known exactly what form the new Neo Geo system will take – or why we're getting two versions, numbered '2 and 3' – Zhihui revealed that higher-than-expected sales of the Neo Geo Mini had convinced the company to create more hardware. However, he was quick to add that these new consoles are unrelated to the Neo Geo Mini, a stand-alone mini arcade cabinet pre-loaded with games that plugs into your TV via HDMI.

The new Metal Slug game, on the other hand, isn't related to the upcoming mobile title, currently in development at Tencent. The last mainline instalment in the series was Metal Slug 7, which launched on the DS in 2008 and was later updated for the PSP in the form of Metal Slug XX.

Zhihui also confirmed during the Q&A session that SNK Heroines: Tag Team Frenzy has sold 300,000 copies since launch.