Aug 5, 2011 17:51 GMT  ·  By

Nintendo showed off the Wii U home console at the E3 2011 conference back in June, but the company refused to talk about how much the new platform would cost or exactly when it is launched.

And now one leading video game executive says that choosing the right price for the Wii U might mean the difference between success and failure in the marketplace.

Rod Cousens, who is the chief executive officer at Codemasters, has talked to MCV about the price and launch date for the Wii U, saying that, “Everybody knows is coming. I anticipate further price cuts on existing consoles prior to Christmas this year, and there’s room for further price cuts next year.”

He added, “So Wii U needs to be very keenly priced – and in the same way that Sony is having to price Vita when the competition is smartphones and tablets. Pricing is critical in a very fragmented hardware space. So I am not sure they are going to be able to come out and hit a premium price point from the outset.”

Cousens acknowledges that Nintendo is usually smart when it comes to such business decisions and believes that the company can achieve the same success again.

The developer also added that he is interested in seeing how Codemasters core racing series Dirt and Formula One would perform on the Wii U.

The unique selling point of the Wii U is the new controller designed by Nintendo, which incorporates a full touch screen as well as traditional controls, allowing the player to experience some aspects of the game away from the main screen that is attached to the console.

Nintendo also says that the new device can offer the same graphics quality seen on the PlayStation 3 and the Xbox 360 and that it plans to make it attractive for first-person shooters and for action adventure games.