Nintendo to launch new system

According to a Reuters report, Nintendo has announced plans to release a new console by 2005 or 2006, coinciding with the release of new consoles from Sony and Microsoft. Nintendo president Satoru Iwata also told the news service that GameCube sales will fall short of the company's original goal of 10 million total systems during the 2002 and 2003 fiscal year. However, the Game Boy Advance continues to sell well, with games from the Pokémon series helping to bolster the handheld's position in the market.