According to IGN sources, Nintendo is set to announce a new console this summer at E3 and the new console is significantly more powerful than the Playstation 3! The new console will also be backwards compatible with Nintendo Wii software. Nintendo’s plan for the new console is to re-capture the hardcore gamers they lost with the Nintendo Wii console. Sources say that the new console will be pre-announced this month with a full reveal to come during E3 2011. Game Informer has even more discussion about the new console.

New details have emerged about the new console. It has been code named “Project Cafe.” The new console’s controller features a 6″ touch screen and dual analog control sticks. The console can stream entire games to the screen on the controller like a miniature television.