The original Pikmin was a weird revelation for me. It was the first game I played on the Gamecube, a game I had no expectations for. It was about as classically Nintendo as a game could be, yet it was a new IP. Miyamoto has confirmed the existence of Pikmin 3 on the Wii U, but only now has he opened up about the game's development.
"Originally, I was making Pikmin 3 to be launched on the Wii platform," said Miyamoto, talking to Entertainment Weekly. "Because the Wii U is capable of HD quality pictures, and will be accompanied by the subscreen on your hand. I thought that I would be able to make a Pikmin that was closer to my ideal. I am now actually enjoying myself, working on the game."
Miyamoto claimed he was stepping back to work on new IP for Nintendo in a reduced Producer role, but it looks as though he is still overseeing the Pikmin 3 project, at least in some capacity. It makes sense: the Pikmin series is, after all, Miyamoto's latest baby.
Interesting that Miyamoto mentioned the the Wii U's 'subscreen'. I'm very keen to see precisely how that is used as part of Pikmin 3's mechanics.