Nintendo Co. Ltd. has announced that it will be replacing its video game console, the GameCube, with something entirely new by May next year. This brings Nintendo back up to par with Sony and Microsoft, who have said the same thing.
Nintendo's senior managing director, Yoshihiro Mori said during a press conference today that "Rather than offering a new edition of the same thing, we want to offer new ways of game playing."
Pricing details are not yet confirmed within the company. Source