The Legend of Zelda Wii U does not feature on Nintendo's newly published list of planned 2016 releases.
As of now, the game still does not have a title and was moved out of 2015 back in March. At the time, Nintendo simply said the launch date for the games was "TBD".
The company's quarterly financial report notes that Genei Ibun Roku #FE (previously Shin Megami Tensei X Fire Emblem) and Project Guard (a temporary title) are both set for release next year. The Legend of Zelda however, continues to be listed as “TBD.”
Many originally expected the game to launch in late 2015 and the absence of 2016 launch seems odd at this stage. It's possible that Nintendo intends to transition development to NX, its forthcoming platform which will be revealed next year. If that's the case, it will probably be 2017 before the game launches.
3DS players can expect to play Hyrule Warriors Legends, Mario & Luigi: Paper Jam, Fire Emblem Fates: Conquest, Fire Emblem Fates: Birthright, Bravely Second: End Layer, Metroid Prime: Federation Force, and Mario & Sonic at the Rio 2016 Olympic Games next year.
Nintendo announced a return to profitability today and confirmed that lifetime Wii U sales have finally topped 10 million.