They might be able to. Besides, it would be a good idea if they did, considering that tablets and mobile phones are taking away Nintendo's thunder in the handheld market.
However, it would have to be able to do pretty much everything other tablets and phones can do, but clearly it wouldn't allow apps made by Microsoft or Sony (Or would it?).
I'm not saying this would be the full solution to NIntendo's current dilemma, but it might bide them some time to make other improvements to their business plan.