"Nintendo has decided to launch in 2012 a system to succeed the Wii, which the company has sold 86.01 million units on a consolidated shipment basis between its launch in 2006 and the end of March 2011," the company said.
"We will show a playable model of the new system and announce more specifications at the E3 Expo."
The E3 event takes place in Los Angeles in June.
The company also revealed it had not included expected sales of the Wii 2 in its financial forecasts for April 2011 to March 2012, meaning the console won't be available to consumers until at least April next year.
According to rumours of the web the new console has been codenamed 'Project Café' and is also thought to include a 6in touchscreen and a tablet-style controller. However, the device is unlikely to offer 3D graphics.
"It's difficult to make 3D images a key feature, because 3D televisions haven't obtained wide acceptance yet,' Nintendo's President Satoru Iwata told Bloomberg News.