First i want to say up front that I have no substantiation for the following, nor do I really believe it, but it's a theory that has popped into my head and I can't get it out so I am putting it down here for posterity and so I can stop thinking about it.
What if NX stands for Nintendo-Xbox? By which I mean what if NX is a partnership between Microsoft and Nintendo where Nintendo makes the handheld portion and Microsoft makes the console (Scorpio)?
In a way it makes sense. There are rumors that the NX would work with other consoles. It was also said that it was "as powerful as an Xbox One" but with an "industry leading" chipset. Sounds like Scorpio to me. Also the NX is said to be extremely easy to port games to (it just works.) Nintendo has never been an industry leader in toolsets, but if the NX was running a modified version of Windows, this would make sense.
Nintendo and Microsoft recently worked together to get Mario into Minecraft, which is a Microsoft published game on a Nintendo platform, so they do have some business relationship, and there is some definite business logic to them teaming up against Sony.
Microsoft needs top quality games to expand its userbase. Nintendo has them (how many people just buy a PC and Nintendo console because they can't get the Nintendo games anywhere else?) Nintendo doesn't get much revenue from third party publishers on their platform, and needs a bigger install base to sell its games. Microsoft has a very strong internet architecture in Xbox Live, and Nintendo needs that too. The two companies strengths compliment each other.
I would imagine that Microsoft would make the console and Nintendo would make the handheld. Microsoft would get the console revenue from the console while Nintendo would get it from the handheld, except that both companies would be able to publish on the other's platform without paying a fee (So Nintendo would get all revenue from Mario on Scorpio and Microsoft would get it all from Halo Handheld.)
The NX was allegedly pushed back to allow for VR integration but what if that's the Scorpio portion, which is almost certainly going to be VR focused (and Nintendo doesn't have a partner for VR, while Microsoft has Oculus.)
This would explain why Nintendo has nothing planned for E3 while Microsoft has announced that they're doing something very special. Phil Spencer is going to introduce Shigeru Miyamoto and say that a bunch of Nintendo games are now available for purchase on your Xbox One (Probably not Wii U games, but Virtual Console type titles.) Nintendo has said NX won't replace the Wii U and maybe this is why. They will continue to sell their own home console but publish their games on Xbox too.
Now is this going to actually happen? ALMOST CERTAINLY NOT. I would put the chances at under 1%. Something would have leaked by now, and Nintendo is stubborn and wants to control its platform. The two company's brands (Bro and Kiddie) don't really mix and the corporate culture disconnect would be huge. But for me at least the signals are there and I can't get the theory out of my head. So i present it here for ridicule.
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