Nintendo has confirmed that their next dedicated home platform, currently known as the “NX“, will not launch until March of next year.

The news came during a briefing with Nintendo’s investors early Wednesday morning in Japan.

“For our dedicated video game platform business, Nintendo is currently developing a gaming platform codenamed “NX” with a brand-new concept. NX will be launched in March 2017 globally.”

Furthermore, Nintendo has opted to delay the next entry in its Legend of Zelda series until 2017 as well, although they confirmed the rumors that the title is in development both as a Wii U and NX release.

Surprisingly, according to Wall Street Journal reporter Takashi Mochizuki who was covering the event live, Nintendo is not planning to showcase the NX at this year’s E3. The company is opting instead to focus on Legend of Zelda, which according to Nintendo itself, will be the only playable game Nintendo will bring to this year’s conference.

“Nintendo changes its approach to the show every year. This June, Nintendo will focus its attentions on the upcoming game in The Legend of Zelda series. The Wii U version of the game will be playable for the first time on the E3 show floor, and it will be the only playable game Nintendo presents at the show, in order to provide attendees a complete immersion. Additional information about Nintendo’s E3 plans will be announced in the future.”

The delay of both the NX and the Legend of Zelda helps color in an already bleak picture for Nintendo. Despite selling over 4 million copies of hits like Splatoon, as well as strong Amiibo sales, the company still saw a 61% drop in net income for the fiscal year ending in March 2016.

Are you surprised that Nintendo will miss 2016 with both the NX and Legend of Zelda? Is Nintendo doomed? Let us know your thoughts in the comments section below.