Nintendo said on Tuesday its next-generation video game console, called Wii, will be available in time for Christmas, however fails to set an exact date or price for the new next generation console.

High on that list is the next version of the popular Zelda game, "The Legend of Zelda: Twilight Princess," which will be available at Wii's launch, said Reggie Fils-Aime, executive vice president of sales and marketing for Nintendo of America.

Nintendo's console, the Nintendo Wii will also be the only next generation console not to offer next generation DVD support one of the reasons the company is expected to launch the console at a considerably cheaper price than both Microsoft's Xbox 360 and Sony's PlayStation 3, announced earlier this week.

Like the PS3, Nintendo's controller will be motion sensitive, however in a report on CNN.com suggested that Nintendo shrugged off the similarities, with a spokesperson saying "imitation is the sincerest form of flattery".

Meanwhile the games company announced that it has sold over 16 million Nintendo DS handheld consoles since its launch.