Satoru Iwata crushes hopes that the successor to the Wii is around the corner.

A Nitnendo console usually lasts around five years before it is replaced but Nintendo's President Satoru Iwata has claimed that in spite of the Wii being four years old fans should not expect a new console any time soon.

In an interview translated by a NeoGAF user Mr. Iwata claims that the Wii is still selling over 7 million units in North America each year so there is no urgent need for the console to be succeeded. He also suggests that a new console will be released only when developers have a unique new idea that will be worth purchasing a new console for.

However, Satoru Iwata is due to give a keynote speech tomorrow at the Games Developers Conference and he has used this opportunity in the past to make some announcements so while the 'Wii 2' is not on the cards stay tuned as more games may be announced.