It sounds like a match made in JRPG heaven. Jupiter, the developers of cult classic The World Ends With You, teaming up with Tales producer Makoto Yoshizumi. Somebody pinch me.
It seems Tales of Link isn't the only trademarked Namco title to get the green light, as Tales of Bibliotheca is being produced for iOS platforms.
This game is not an original title but, rather, a compilation of twelve stories taking place across the Tales universe, the first of which will cover Tales of Vesperia. It sounds like a Sonic Generations-esque take on the franchise, but that's not necessarily a bad thing.
The first chapter of ToB will be free. The others will be 170 Yen each or 1700 Yen for the whole set. That's about $18 for the whole set. Not a bad deal, if you ask me.
Predictably, there's no Western release date set at the moment, so keep those fingers crossed!