Powered by the same GPU as the Nvidia Shield and a couple smart phones and chromebooks, (and not as powerful as current gen consoles or even close to gaming PCs), the Nintendo NX will use the Nvidia Tegra as a GPU/CPU combo for a handheld console with detachable controllers. It will also come with a home base that you can plug into to play the console on the TV. It will still play cartridges.
My guess is that it will look like the Wii U controller, except with detachable nunchuck controllers on the sides. I would photoshop something to look like that but I need a new photo editing program. ehh.

The Tegra is a decent chip, but I don't see Nintendo competing with Sony or Microsoft at this point anymore. Its like they are doubling down on their handheld market, which makes sense to me. They know how to make good handhelds and they sell. But if this is all true it seems a bit too gimmicky to me. The Wii and Wii U was all targeted at families and party games, but this is obviously targeted toward individuals and solo players. If the screen is the normal size of a cell phone and its meant to run games all the time, I wonder how hot the thing will get and if it'll need to be recharged every 2 hours.
Sources:
http://www.eurogamer.net/articles/2016-07-26-nx-is-a-portable-console-with-detachable-controllers
http://www.vg247.com/2016/07/26/nintendo-nx-is-portable-with-detachable-controllers-and-uses-nvidia-tegra-tech-report/

I haven't been following Xbox products and I was surprised to see this one. I thought it was the new upgraded Xbox.. it is but it isn't. It's basically the Xbox One Slim. Its 40% smaller, larger hard drive, 4k bluray player and HDR video. Theres still another upgraded Xbox coming out in the near future that should allow 4k gameplay. This slim version is what I envisioned the initial Xbox One would have been. But instead they released that mandatory camera system with it and refused to make bluray movies play on the system unless you download an app. Probably because sony owns bluray tech. The Xbox One S came out just yesterday and now I'm wondering how much longer it'll be before we see a PS4 slim and if it'll have extra features.
http://www.xbox.com/en-US/xbox-one-s
Reference to the bluray thing:
http://support.xbox.com/en-US/xbox-one/apps/dvd-blu-ray-setup

I think Nintendo has finally realized they can make massive amounts of money with their properties on non-Nintendo dedicated systems. Do you think this will affect Nintendo's console decisions in the future? Their handheld market has always been lucrative for them, but by braking out of their hardware comfort zone and succeeding, how long do you think it will be before we see more game releases from Nintendo on Android and iOS? Mobile pays off as big as it does because of the sheer amount of people that have access to it. I'd love to see Nintendo realize their market potential and start releasing games on Playstation 4, PC and Xbox one as well.
https://www.vg247.com/2016/07/12/pokemon-go-has-already-made-over-14-million-report/

If Nintendo had Pixar make their movies while maintaining control of the property so another "Super Mario Bros." live action fiasco never happens again, they could make some really awesome movies. But if Nintendo teams up with some companies in Japan that did the live action death note or attack on titan movies, this could lead to some huge flops.
Sources:
http://icv2.com/articles/news/view/34515/nintendo-plans-self-fund-movies-videos
http://kotaku.com/nintendo-wants-to-make-movies-1777033924
 

http://www.dualshockers.com/2014/07/08/microsoft-gifting-xbox-360-owners-75-with-the-purchase-of-an-xbox-one/
 
Umm... wow.. that seems a bit desperate to me. Its a good deal for anyone that hasn't gotten the Xbox One and was planning on it tho.