Mobile 'real life' Pokémon collecting, battling and trading.
A collaboration between Niantic, Nintendo and The Pokemon Company.
Masuda involved in game design and music.
Iwata was originally involved in the project's start, Pokemon Snap was an inspiration.
It seems like it is based off of Niantic's mobile game Ingress which is an augmented reality MMO that you play in real life locations.
Optional accessory called Pokemon GO Plus, a Bluetooth enabled wristband that lights up or vibrates for notifications in Pokemon GO, can be pressed to perform in-game actions.
Announcement trailer: https://www.youtube.com/watch?v=lKUwVYUKii4