The Pokémon Company has officially announced Pokémon Sun & Pokémon Moon versions in today’s Pokémon Direct.
The two games will launch in 2016 Holiday for 3DS
https://www.youtube.com/watch?v=hmzDL1l3Fag
Pokémon Sun & Moon are compatible with Pokémon Bank and Pokémon can be transferred to Sun and Moon from the Virtual Console games. It will also be possible to transfer Pokémon from Pokémon X & Y and ORAS, using Pokémon Bank. The games will be playable worldwide in 9 languages.
The official site has confirmed that Sun and Moon will arrive with “a new world, new Pokémon, and new adventures to discover”. New Pokémon and region/s are confirmed! In addition to this the press release for the UK specifically states that Sun and Moon are a “new generation of Pokémon game”.
For those with a keen eye: the trailer appears to tease a new bird Pokémon with a similar appearance to Fletchling.