Coleco, a classic game development company, announced that it has entered into a new partnership with Retro Video Game Systems.

According to the studio, the partnership involves the development of a new gaming console for cartridge-based games, Gamespot reported.

The move by the two companies may seem like an odd marketing decision since today's gaming industry is being dominated by next-gen consoles, digital content and downloadable updates. But according to the partners, the upcoming cartridge console, dubbed as the Coleco Chameleon will serve as a new gaming device that will offer the nostalgic appeal of classic games.

According to IGN, the Chameleon will serve as the follow-up to Coleco's Colecovision, which came out 30 years ago in 1982.

As explained by Retro Video Game Systems, the Chameleon will put a modern twist on titles that came out during the cartridge era of gaming. Although the company did not go into detail regarding how the console will work, it noted that it was designed to accept 8, 16 and 32-bit games.

Mike Kennedy, the president of the company, noted that the upcoming console will not directly compete against modern gaming systems. Instead, it will offer gamers, especially those who were around during the days of the classic consoles including the Family Computer and the Super Nintendo Entertainment System, a chance to reminisce by playing through the games they enjoyed as children.

It could also teach young gamers of today the roots of their favorite past time.

"The Coleco Chameleon is a love-letter to all the classic cartridge based gaming systems that came before it and we love the fact it will succeed Coleco's successful Telstar and the Colecovision product lines," the executive said in a press release.

"It will take gamers and their families back to a simpler time where gamers were all about great gameplay and fun factor," Kennedy added.

Coleco nor Retro Video Game Systems did not mention exactly when the Chameleon will be available in the market but the companies noted that gamers can expect to see it sometime in 2016. Also, those who are looking forward to the upcoming cartridge-based system can visit next year's Toy Fair New York, happening from February 13 to 16, for a sneak peek of the console.

Pricing details regarding the gaming system was also not announced but according to a tweet from Coleco, the Chameleon will be sold at a relatively cheap price.