September 24, 2009

Nintendo To Drop Wii Pricing

According to several technology blogs, Nintendo Co. Ltd may be slashing the price of its Wii video game console to $200, starting this weekend.

Reuters reported that no Nintendo spokesman was immediately available to comment about the reports, which appeared on blogs by Kotaku and Engadget.  According to the blogs, the new price will take effect on September 27 at retail stores.

Nintendo would be the last among the other top video game console makers to cut the price of their latest products.

Microsoft Corp. and Sony Corp. both dropped the prices of their top end consoles by $100 last month. 

Sony Computer Entertainment of America Chief Executive Jack Tretton told Reuters in an interview on Wednesday that the sales of the PS3 jumped after the price cut.

A Nintendo spokesman said the company had no plans for a price cut after Microsoft dropped its prices on August 27.

According to research group NPD, video game industry sales have slumped over the past six months, and hardware sales in August declined by 25 percent.

Analysts have said the drop in sales is due to the lack of spending by consumers being hit by the tough economy.  Long awaited new releases from popular titles like "Halo," "Guitar Hero" and "Call of Duty" are expected to also boost sales in the coming months.


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