Nintendo president Satoru Iwata tells Japanese newspaper the next-gen console will be in US homes for the holidays.

To date, Nintendo has been rather stingy with details about its next-generation console, the Revolution. So far, the Kyoto-based game giant has only unveiled a mock-up of the console and its new controller. It has also vaguely mentioned that several of its popular franchises, such as Super Smash Bros. and Metroid Prime, are going next gen.

Given the lack of information, speculation has mounted that the Revolution may not actually launch until 2007. Today, though, the company's head man debunked all rumors, stating that the console will make it in time for Christmas 2006.

In an interview featured in today's edition of Japanese newspaper Sankei Shinbun, Nintendo president Satoru Iwata stated, “We can't disclose the Revolution's release period yet, but we have no plans to miss out on the year-end sales battle. As for North America, we need to release it by Thanksgiving, or otherwise we won't receive support from the retail industry. So the Revolution will be released prior to that period.”

Iwata avoided any specific comments about how much the Revolution would cost. However, he reiterated that the console will be reasonably priced. “The amount of money that people are willing to spend on videogames is getting less every year,” he said. "Even if it's a superb machine, it's not going to sell if it's 50,000 yen ($434). We plan to make [the Revolution] an affordable price."

To date, Nintendo has never released a console above the price of 25,000 yen ($217) in Japan. Iwata also told the Sankei Shinbun that a working model close to the final form factor of the Revolution will be shown at E3 in May.