EEDAR analyst Jesse Divnich has said he expects Nintendo to have sold 5 million units of 3DS by March 2011.
Speaking in a note to Industry Gamers, he also predicts that the console will launch in two regions by November.
"According to their expected Nintendo DS and 3DS sales (they combine both sales into one category) our estimates indicate that Nintendo is expecting the 3DS to sell 5 million units by March 2011," he said.
"Given historical sales of the Nintendo DS, which coincidently sold 5 million units through March 2005, Nintendo is likely to announce that the 3DS will be available in at least two regions beginning in November 2010."
However, Divnich added that any "pricing strategies" won't be announced until Tokyo Game Show at September at the latest.
Nintendo president Satoru Iwata said this week that 3DS's name isn't formal, with its proper name set to be announced four weeks tomorrow at the company's E3 presser - something Divnich reckons will happen.
The handheld is seen as the next big step for the platform, and will let gamers play 3D games without the need of glasses.
It's due to launch before the fiscal year is out.