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An HD port of Shenmue is indeed heading to Xbox Live Arcade and PlayStation Network, and development on the title has been “finished for well over a year”, according to an industry source speaking to GamerZines.
Our source, who wishes to remain anonymous but does have ties to SEGA, told us that “Shenmue HD is real [and has been] finished for well over a year.
“As is Shenmue II HD”.
So, if true, why has SEGA held off on releasing them?
According to our insider, SEGA chose to sit on their release until it had a clearer picture of the future for the Shenmue franchise, namely, whether or not Shenmue III would ever see the light of day.
SEGA teased earlier this week that it “may be working on” an HD port of Shenmue.
An XBLA release has been rumoured since April 2010 when the game allegedly turned up on a secret developer test network.
I know who this is, too. It is indeed real, and it'll be announced after JSR releases.