The Wall Street Journal reports that the Japanese gaming giant is looking to continue momentum and maximise sales of the Switch device by releasing a Switch 2.0.
It cites stakeholders with links to the suppliers as its sources.
A new Switch could have an upgraded, higher resolution and brighter screen. And, by adopting better display technology, the follow-up could be a slimmer device and provide longer battery life.
It is not expected to be OLED though, states WSJ Japan.
The new Nintendo Switch is tipped for the latter part of 2019, but summer has not been ruled out.
Nintendo is known for updating rather than replacing games consoles in the past. Both the GameBoy and DS consoles went through a number of upgrades in their lifespan, with the latter still available in the form of the 3DS and 2DS.
And while home consoles have traditionally had shorter shelf lives, the Switch is a hybrid between a portable and a TV games machine. It is already seen as much the spiritual successor to the 3DS as it is the Wii U.
A Nintendo Switch Mini has even been rumoured in the recent past, further bridging the gap between the handheld and the larger device.
There are also close to 20 million Switch units already out there, so an upgrade rather than replacement makes sense for Nintendo as well as the third-party games publishers developing for the platform.