Nintendo will launch its Wii U console(interactive entertainment computer). Nintendo chief executive Satoru Iwata told reporters in Japan that the Wii U would be launched by the end of the year in the U.S., Europe, Australia and Japan. Video game fans have been eagerly awaiting the this console., which features a tablet-like game controller.

Nintendo launched its Wii console in 2006 and it has sold more than 94 million consoles. But the Wii has been showing its age and for the past year, the Xbox 360 has been the No. 1 console in the U.S.

So Nintendo has a lot riding on the the Wii U, which has novel game play opportunities but is risky. Some observers worry that the Wii U may be under-powered, much like the Wii, even though it will be able to play high-definition games.

Are you awaiting for the new Wii U?