Recent rumors have cropped up concerning a game called Smash Bros. Universe for Wii U, sparking all sorts of wild debate online. Series director Masahiro Sakurai has, however, stomped on any Smash Bros. talk, claiming that the series won't move forward at all until Kid Icarus: Uprising is completed.
"I'm currently concentrating on one title, Kid Icarus," he stated. "Until this wraps up, Smash Bros. will not progress. Of course, characters have not been decided at all."
This is not to say that Smash Bros. Universe might not still be a thing. After all, I'm sure Nintendo is at least talking about upcoming Smash Bros. projects, even if development's not been started. Nevertheless, we don't really know anything about the future of the series, and it seems likely we won't be getting any solid details for a while.