Development kits for Nintendo's NX console are in the hands of developers now, according to sources at the Wall Street Journal.

Allegedly, the NX will sport a similar form factor to that of the Wii U, but with a touchscreen-enabled controller that can also function independently as a mobile console.

The console is also said to feature "industry-leading" processors, after the Wii U's hardware failed to live up to the standards set by its competition.

Devkits going out to studios fits approximately with Nintendo's claim of revealing the console in 2016.

Macquarie Capital Securities analyst David Gibson believes the console could even launch the same year.

"We are increasingly of the idea that Nintendo might launch the NX in 2016 because of the softness of 3DS and Wii U," he said.

Look for more details in the coming year.