Sega Looking Into “Shenmue I & II” HD
"Investigating How to Make the Remasters a Reality"
During the SEGA Central video where Sega unboxed the special edition of "Valkyria Chronicles Remastered," Sega Europe's community manager Dan Sheridan commented on a fan's question about the possibility of seeing "Shenmue I & II" being remastered for current consoles.
Dan stated that Sega is investigating how to go about remastering the two games. However, he also said that the process isn't an easy one. The two main obstacles Sega faces are the the licensing of certain products in-game (a problem that Sony and Capcom ran into with "Mega Man Legends") and the actual remastering, as Sega doesn't want to put a shoddy re-release of the beloved franchise.
"Shenmue III" was revealed during E3 2015 at Sony's presentation, where the game was announced to be crowd funding to ensure publish interest due to previous money lost from the previous games selling poorly. The game managed to get its funding in just 8 hours after launching, where servers for Kickstarter suffered due to the insane amount of traffic. Right now it's estimated release date for PlayStation 4 and PC is December 2017, though that's assuming the development goes smoothly and not taking any delays.
Source: Sega Europe