Nintendo Wii Price Cut Ruled Out By Company President

Amidst the rumors of a possible price cut for the Nintendo Wii console, the company's president, Satoru Iwata, has just revealed that Nintendo isn't considering such a move in the near future, and that it is focusing on making the Wii more attractive to those that haven't bought it already.

The Nintendo Wii isn't what it once was, and sales have been slipping in recent times, so the Xbox 360 and the PlayStation 3 are now dominating the once mighty sales phenomenon.

With that in mind, rumors and speculations about a possible Wii price cut have appeared, also fueled by the prediction of Wedbush Securities analyst Michael Pachter that the Wii must slash its price to stay ahead of its competitions.

Nintendo president Satoru Iwata begs to differ though, and revealed that the company isn't planning a price cut anytime soon.

"Of course, we cannot say it will never happen, but we are not thinking of it for the near future," said Iwata when asked about a possible price cut.

According to the Japanese executive, those that already wanted to buy a Wii have acted, so it's time to attract those that always pondered such an acquisition, but didn't have a solid reason to do so.

"Those who really wanted it would have already bought it so now we need to reach those who considered it but never got around to buying it," said Iwata.

As such, Nintendo is launching special bundles like the red Wii in celebration of the 25th anniversary of company mascot Mario, which, besides the special color, has New Super Mario Bros. Wii, plus Wii Sports and the red Wii Remote Plus - a new Wii Remote with a built-in MotionPlus.

According to Pachter, the Wii will still dominate winter holiday sales, so bundles like the red Wii are certain to attract those that haven't bought the console yet, no matter the price.

Nintendo is also getting ready to release the 3DS handheld device in February in Japan, which will retail for a larger price than the Wii, but boast new technologies like 3D.