According to “a trusted source close to Atlus USA” of blog and online retailer Rice Digital, Shenmue I and II will be remastered in HD and release later this year.
The site notes the games will release separately and before the launch of Shenmue III. The site also mentions it’s “safe to assume a PC / Steam release.” This is possible as Shenmue III is in development for PC and Playstation 4. It’s also worth mentioning that Sega registered ShenmueHD.com and ShenmueRemastered.com so this is very possible.
Please keep in mind this is still a rumor nothing has been confirmed.