Colin Sebastian of Lazard Capital Markets believes that a ‘Wii 2′ will be released in 2011:

“We note that Nintendo is widely expected to deliver a Wii refresh in 2011, well before Sony and Microsoft come to market with new platforms, although this is unlikely to represent the launch of a new generation. Instead, we expect Microsoft and Sony to leverage their growing online content and services platforms, along with new motion sensing controllers, and to a lesser extent 3D and Internet-enabled televisions, as three pillars for growth over the coming 2-3 years.”

Speaking with MCV, Colin also thinks that big things could be in store for the upcoming Nintendo 3DS:

“3DS could emerge as an E3 winner. Our conversations with industry contacts suggest the Nintendo 3DS is an impressive device, and is garnering support among third party developers.”

Lastly there could be upgrades to Nintendo’s online functionality if this analyst is to be believed:
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