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Nintendo logo (Photo : Reuters)

In March, Nintendo confirmed that the company is developing a new console. The project codenamed Nintendo NX is expected to reinvigorate Nintendo's slow decline in the market it once dominated.

According to Tech Radar, the introduction of a new Nintendo will help pull up the company after the lackluster sales performance of Wii U which, if based on unit sales, is the worst in Nintendo's history.

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Currently, Wii U has reached the 10 million mark for number of units sold. The Wii U's sales figure is lowest among the top three consoles in the market. This sales figure was partly revived with the introduction of the "Legend of Zelda" game.

After the announcement of Nintendo NX, several tech blogs and news sites began speculating what would the upcoming next-gen console's specs.

According to Trusted Reviews, Nintendo need to up the ante when it comes to its console's hardware specification in order to offer a much better graphics. Currently, Nintendo Wii U runs using the outdated IBM Power-based multi-core CPU with an AMD Radeon 700 GPU. Considering Wii U's hardware and its 2GB of RAM, with 1GB of it dedicated for games, the console is capable of a 1080p Full HD output but it can't be in par with the output offered by PS4 and Xbox One.

Many tech analysts said that the Nintendo should develop a new control method as well as a more accessible online community if the company wants the NX to be successful. Nintendo president Satoru Iwata claims that the new console will integrate a "brand-new concept."