Earlier this month Hyperlink posted an update on their blog saying that the new console, the RetroN 4 would be unveiled but the system has skipped ahead a step due to the five cartridge slots that it offers.
The five-slotted console will also support Game Boy Color, Game Boy and Super Famicom cartridges.
Rather than using emulators on a PC to play ROM copies of old classic Nintendo and Sega games, the RetroN will allow you to play from original game cartridges and with original controllers, Slashdot reports.
Hyperkin have also said the new system with an HDMI out will give a clear signal to HDTV's and will upscale the games to 720p. It will also come with bluetooth wireless controllers, stating at the conference Hyperkin said, "the controllers of the RetroN 5 will not only support bluetooth technology but will allow for a playable distance of up to 15 feet without losing sync from the console."
No final price and release date have been confirmed but Slashdot reports that RetroN 5 will hope to keep the price around $100 releasing the console in the summer.
Watch the full Hyperkin announcement at MGC 2013 here.