For months now there have been rumors circulating that suggest Nintendo is preparing to launch a new Nintendo Switch model. Some speculated that this could be a more powerful version, while others speculated it would instead be a smaller, cheaper version. These two hypothesized models have become known by the nicknames Switch Pro and Switch Lite. If the Wall Street Journal is to be believed, they're both real and both coming in 2019.
According to the sources of Takashi Mochizuki at The Wall Street Journal, Nintendo is likely to unveil two new Nintendo Switch models at E3 in June. They are expected to launch a few months later. One "will have enhanced features targeted at avid videogamers" but won't be as powerful as PlayStation 4 Pro or Xbox One X. The other model is "a cheaper option for casual gamers that Nintendo sees as a successor to its aging hand-held 3DS device." This information is said to come from part suppliers and developers.
One of Mochizuki's sources stated the following about the upcoming models: "You would be wrong to think the enhanced version is similar to what Sony did with PS4 Pro and the other is just a cheap alternative that looks very similar to some past hand-held machines, say, Sony's PlayStation Vita." It's unclear what the price will be for either model, but the cheaper option will eliminate some features to cut costs. This reportedly means it won't feature the HD Rumble vibration of the normal Switch.
At this time Nintendo has not commented on this story, and they most likely won't. As such, it should be taken with a healthy serving of skepticism. That said, it seems highly likely that at least one new Nintendo Switch model will be introduced in the near future based on multiple sources, and an E3 reveal would make sense.
Source: Wall Street Journal