Nintendo users will finally soon have an online experience on par with Xbox Live and PlayStation Network. At least that's the message from Nintendo president Satoru Iwata, who broke the news in a meeting with investors yesterday shortly after the company released its quarterly earnings.

Iwata's presentation explained that the Nintendo Network would encompass the company's next generation of products, including the portable 3DS and the Wii U console, to be released later this year. The network won't just be a place where users can play games against each other online — Iwata said it would also offer full downloads of game titles, some add-ons and access to other digital content. That would be a big upgrade from the limited network connectivity that currently exists on Nintendo's hardware.

"Unlike Nintendo Wi-Fi Connection, which has been focused upon specific functionalities and concepts," Iwata said, "we are aiming to establish a platform where various services available through the network for our consumers shall be connected via Nintendo Network service so that the company can make comprehensive proposals to consumers."

Iwata pointed out the new community functions in Mario Kart 7, which is already available, as the first example of the new network's capabilities. He also said the next edition of the Final Fantasy franchise, due Feb. 16, would feature user-selectable music that would be available for paid download.

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Selling games through the network is a little further out, though Iwata said the functionality is already built into the 3DS and would be part of the Wii U platform. Iwata was careful to hedge on when full games would actually be available, saying retail and distribution partners needed to be considered.

When the Wii U arrives, Iwata said it would feature a personal account system that's tied to the Nintendo Network. That way it could have tailored settings and different content specifically for the user who logs in, something Iwata said has been a "challenge" with the Wii.

Besides the network, Iwata had another surprise about the Wii U: Near-field communication (NFC). The wireless tech, usually associated with mobile-payment systems like Google Wallet, will be built into the tablet controller for the console. Iwata said that with NFC "it will become possible to create cards and figurines that can electronically read and write data ... to expand the new play format in the video game world." He also mentioned micropayments as another potential function.

What do you think of the news about the Nintendo Network? Will it take the company's gaming platform to a new level, or is it too little, too late? Sound off in the comments.

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