A report from The Wall Street Journal is making a rounds in the web saying the game developer Nintendo’s next console is codenamed “NX.” The report says that “NX” will be equipped with an “industry-leading chips” that will inspire competition and surely will become a game changer in the console market with its known rivals—Xbox One and PlayStation 4. It was also pointed out that the company is gearing up to release the device come 2016.

According to The Verge, Nintendo’s NX, as the WSJ report claims, will “likely include both a console and at least one mobile unit that could either be used in conjunction with the console or taken on the road for separate use.”

“The WSJ also says that third-party developers already have their hands on development kits for the new platform, which shouldn’t be too surprising — earlier this year Square Enix announced that the upcoming Dragon Quest XI would be coming to the NX in addition to the Nintendo 3DS and PlayStation 4,” the report said.

Twinfinite reports that “Nintendo has refused to comment on these claims and sticks to the previous statement that more news of the NX will come in 2016.” Citing the WSJ report, analyst David Gibson claims that Nintendo’s NX is likely to be launched next year, saying “because of the softness of 3DS and Wii U.”

“There has been speculation that one third party developer to already have the NX’s software development kit is Square Enix as the company announced in July that Dragon Quest X and Dragon Quest XI will be on the NX. The company later backtracked on this by saying that these projects were still “under consideration,” the report has noted.

“Nintendo has started to send out software development kits for its upcoming gaming platform, NX. These kits are being sent to unspecified third-party developers so they can modify their existing games or create new ones to run on the upcoming platform,” Gamespot said.

It was said that Nintendo will be holding a briefing on October 28. Hopefully, new details will be released by the company about the upcoming console. “Former president Satoru Iwata passed away in July, though new president Tatsumi Kimishima has vowed to keep Nintendo on the path that Iwata originally charted as it relates to the NX and mobile gaming.”