Nintendo's president, Satoru Iwata, has announced that their new home console, codenamed Project Cafe will not arrive in this financial year.

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Iwata promised that Project Cafe will offer something new for the home console market but told investors that the new machine would not arrive before April 2012.

He explained: "It became difficult for developers to surprise customers with the current Wii... We will offer something new for home game systems."

Project Cafe will be unveiled in a playable form at this year's E3 in LA this June. We'll let you know more as soon as we have it.

Thanks GamesIndustry.biz

By Ewan Aiton