In a recent interview with Game Informer, Zelda producer Eiji Aonuma was asked if Nintendo would be merging the console Zelda and handheld Zelda teams now that the Switch will serve as a successor to both lines of systems. There has traditionally been two teams working on different styles of games, for example Skyward Sword and A Link Between Worlds, both of which produce high quality games, but with a different direction in mind.
Aonuma answered by pointing out that combining the two teams would not speed up the development process and reiterated that the two teams have different approaches to game development. Anouma stated that rather than combine the two teams, he would like them both to work on Zelda games and build on what they have done previously in their projects for the Switch.
When asked directly if there would be a handheld style Zelda game on the Switch, Anouma responded that it was “Definitely a Possibility”. This is a good thing, as it would be a big loss to not have that second line of creativity for Zelda.