Imagine an alternate universe where the Atari Lynx, with its awesome
color screen and arcade Ninja Gaiden
the original Game Boy in sales. Then Nintendo tried to come back with a color system, only to be humiliated by the Neo Geo Pocket Color. That is the the situation for which this rumor makes sense.
Noheat.com speculates that Nintendo will release "a limited amount of content" for Apple's iPhone, in the form of downloadable $29 games. There is so much wrong with this idea. First, and most obvious, Nintendo kind of has their own handheld system with a touch screen. Second, Nintendo does not release games for non-Nintendo consoles. They licensed Mario and Zelda out to Philips for CD-I games, but they didn't make those games (and it didn't really work out.) The last time Nintendo made a game for someone else's system was pre-NES, with stuff like Donkey Kong
And back then, they didn't have a console out to compete with Coleco, Mattel, and Atari.
Here's the weirdest part of all: Noheat claims that "The logic is that because the licensed games will be exclusive and cater to an older audience they should not intrude into Nintendo's existing markets." Brain Age
says hello! Of course, having said all that, now we're quite certain Nintendo will make the announcement later today, just to make us look foolish!
[Via Dot Matrix With Stereo Sound, TUAW]