HD ports of Shenmue I and II for XBLA and PSN have been ready to go for over a year, but Sega's held back on raising fan hopes for the series until it knows the future for the long-dormant franchise. That's according to a “source who wishes to remain anonymous but does have ties to Sega,” says Gamerzines. Which is to say, take all of this with as many grains of salt as you see fit.
Shenmue HD, which Sega teased earlier this week in an interview with Game Reactor, has been “finished for well over a year,” according to GZ's source – “as is Shenmue II HD.” However the company, wary of rekindling enthusiasm for the ill-fated series, is waiting until it has a better idea of where the series may eventually go.
This January, the online Shenmue World was cancelled, while series creator Yu Suzuki outlined ideas he has for a third installment and confirmed the possibility of obtaining the IP rights from Sega. Which is to say, if Sega does want to know where Shenmue will go before making a move on the series, it can head to the back of the line...