Look out, Sony, Microsoft, Nintendo! Coleco, the company behind the Colecovision console of yesteryear, have promised that they're working on a new version of the console. No other details are available, so for now, don't get too excited. It's probably not what you think it is.
The Colecovision brand is now owned by Chicago-based River West Brands LLC, a company started in 2001 by former Kraft executive Paul Earle Jr. The company's business model is to revive dormant brands that still have a significant amount of mindshare. For instance, the company purchased the Nupriin name then released a new over-the-counter painkiller bearing the Nupriin name. That's what the company plans to do with the Colecovision relaunch.
In the words of the company's founder, "'Old' has become 'classic,' and classic has become cool. Unless hundreds of different marketers are all wrong, the conclusion must be that brand revival works" (source).
That means that we're not likely to see any major technical feat with the new Colecovision, whenever it comes out. It'll be a low-tech retro relaunch that appeals to fans of the original Colecovision. It may very well offer an authentic Colecovision experience, but don't expect a next-generation or HD experience and you won't be disappointed.
[Thanks, Dom Pezzuto]