Move over Playstation VR, there’s some new innovation coming from Nintendo.

After several months of intense speculation, Nintendo dropped a surprise bomb Thursday morning via Twitter announcing its new console, the Nintendo Switch.

"Nintendo Switch allows gamers the freedom to play however they like," Nintendo of America President Reggie Fils-Aime said, "it gives game developers new abilities to bring their creative visions to life by opening up the concept of gaming without boundaries."

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As rumored, the console will be a “hybrid” system that can be played both on your TV and taken with you as a handheld gaming system.

The new modular controller design is highlighted in the launch video which shows players using it in a variety of different forms both at home and on the go, even splitting itself in two for multiplayer gaming.

Although this announcement will surely satisfy Nintendo fans' hunger for information, hardware specifications are still up in the air.

With the less than stellar retail performance of Nintendo’s current console, the Wii U, many are still skeptical of how well the gaming giant will stack up against the powerful Playstation 4 and Xbox One with its newest offering.

The Nintendo Switch will launch March 2017.