Today, during Iwata's keynote speech at the Games Developers Conference, the Nintendo president announced that a new Zelda title, dubbed "The Legend Of Zelda: Phantom Hourglass" was in development for Nintendo DS.
The title will be shown at E3 in May, along side Gamecube title "The Legend Of Zelda: Twilight Princess". He also announced that the game would feature 3D graphics, but with a 2D perspective. You can checkout a video of Zelda: Phantom Hourglass from the Nintendo Europe website.
Update: British Gaming Blog have a higher resolution version of the video.
This announcement came as the only real surprise from his speech, but we feel its a very positive one. As all of you will know, the Zelda series has never failed to deliver.
The Legend Of Zelda: Phantom Hourglass is set to launch later this year.