Reuters the systems will be targeted at consumers with less gaming experience and income, compared to the company's typical audience in developed markets.
"We want to make new things, with new thinking rather than a cheaper version of what we currently have," Iwata said, speaking to Bloomberg. "The product and price balance must be made from scratch."
Like Sony and Microsoft, Nintendo has a history of releasing cheaper variations of existing systems, such as the Wii Mini and 2DS. It's unclear how far Nintendo's market-specific devices will veer from existing hardware, but going by today's financial briefing, we'll learn how the company plans to "change our approach to new markets" later this year.
The news follows China lifting its 14-year ban on foreign games consoles, opening a huge market for the platform holders to explore. Microsoft stepped up to the plate last week and announced it's bringing the Xbox One to the nation this September.