Failed handheld the Gizmondo is set to make a comeback this year, according to GamesIndustry.biz's sister site Eurogamer.net.
The project is being driven by UK electronics design firm Plextek and former Gizmondo Europe director Carl Freer.
Eurogamer spoke to Plextek's technical director, Ian Murphy, this morning. When asked if it's true Gizmondo will return he replied, "That's correct, yes."
"There are a few things to do, and it will be a while before that happens," Murphy continued. "But yes, the product has been recovered from the liquidators and we are bringing it back to market."
Murphy said that most of Gizmondo's executives are not involved in the project. That includes Stefan Eriksson, who pleaded no contest to charges of embezzlement in November 2006 and was recently released from prison.
However, Murphy confirmed, Carl Freer is working with Plextek to bring Gizmondo back. Freer's activities were questioned after Gizmondo Europe made huge losses and later went into liquidation, but according to Murphy, "He was proven innocent of all charges."
Gizmondo launched in the UK in March 2005, priced at GBP 229, with a US launch following in October. The company went into liquidation in February 2006.
When asked why he believes the new Gizmondo will succeed where the previous one failed Murphy replied, "We will get it into the market.
"The only reason Gizmondo was not a success last time round was it was not fully brought into the market," he said.
Murphy declined to give any indication of when the new Gizmondo will launch.