According to a new report from The Wall Street Journal, Nintendo's next console — codenamed NX — will feature "industry-leading chips" to better compete with the more powerful Xbox One and PlayStation 4. The report sheds a little more light on a mysterious device, one that Nintendo has said it will reveal in greater detail next year.

The console's form factor has been the subject of much debate, but the WSJ says that the NX will "likely include both a console and at least one mobile unit that could either be used in conjunction with the console or taken on the road for separate use." The WSJ also says that third-party developers already have their hands on development kits for the new platform, which shouldn't be too surprising — earlier this year Square Enix announced that the upcoming Dragon Quest XI would be coming to the NX in addition to the Nintendo 3DS and PlayStation 4.

While we don't know when the NX will be released, this news comes at a tumultuous time for Nintendo. The company is expanding into mobile games for the first time through a partnership with DeNA — the first game is expected to launch this year — while Nintendo also just announced a new president, as Tatsumi Kimishima assumed the role from the late Satoru Iwata. Most recently, Nintendo announced Pokemon Go, an augmented reality game developed by former Google subsidiary Niantic.