The next generation gaming consoles rumor mill has begun to churn. Rumors about Xbox 720 and Playstation 4 are at an all time high. But these products are still a mystery and these consoles may not come out before 2013. On the other hand, Nintendo being the third most popular gaming console seller, has more promising leaks.

According to the latest reports, Nintendo Wii U, the latest gaming console from Nintendo, could get released in November this year. These reports are not official though. But the rumored date has been widely accepted as it has been leaked by a Japanese retailer who has predicted the release date based on Nintendo's release behavior. Turning the pages back on Nintendo's history book, the original Wii was release on Nov. 6 in 2006. That day was Sunday and the predicted released date of Wii U - November 18 - is also Sunday.

Nintendo Wii U is expected to get released in U.S. first, followed by Japan where the next gen Nintendo console will hit stores after a week or two after the American launch date. European, Australian and rest of Asian market could get this new Nintendo gaming console in the first quarter of 2013.

When coming to the specifications and performance of Nintendo Wii U, sadly this console could lose out against Xbox 360 and Sony Playstation 3 (PS3) in performance terms. Nintendo is never much serious about hardware. Avid gamers are now heavily dedicated towards graphics-intensive gaming consoles like Xbox 360 and PS3. Recently, Sony has release its new handheld gaming console - the PS Vita. Also there are many high performance Android phones in the market with high-end GPUs like Mali-400 MP, Adreno 220 and PowerVR SGX 540.

During such a time with heavy appeal for good looking games with eyebrow-raising graphics, there is a risk releasing a console that cannot beat the gaming consoles that are currently available in the market.

However, Nintendo is well-known for impressing consumers with its gaming consoles. What do you think about this console? Could it become a threat to Xbox 360 and Sony PS3 or it will get crushed under the popularity of the rivals?

(reported by Johnny Wills, edited by Surojit Chatterjee)