Since Nintendo announced yesterday that it is cutting back Wii U sales projections, some consumers began to wonder if the system, which currently starts at $300, would see a price cut sooner rather than later. Nintendo President Satoru Iwata threw cold water on those hopes today, telling investors that such a price cut would not be forthcoming.

"With Wii U, we have taken a rather resolute stance in pricing it below its manufacturing cost, so we are not planning to perform a markdown," Iwata said in translated remarks. "I would like to make this point absolutely clear. We are putting our lessons from Nintendo 3DS to good use, as I have already publicly stated. However, given that it has now become clear that we have not yet fully communicated the value of our product, we will try to do so before the software lineup is enhanced and at the same time work to enrich the software lineup which could make consumers understand the appeal of Wii U." (Links added for context.)

Translated from corporate speak, the message is clear: "The Wii U isn't too expensive, we just haven't done a good job convincing enough people why it's worth the price."

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Whatever it ends up costing, don't forget you're also getting a TV remote control for your money!

Amidst all the talk of the Wii U and its unique, touchscreen-equipped GamePad at this year's E3, one of the major specifications missing from the discussion was the massive controller's price. The mystery surrounding that pricing remains a major concern for those considering a purchase of the system, and according to Nintendo President Satoru Iwata, it was also a major concern for the company while the system was still in the design phase.

"Sometime during that final discussion [of the system's design], we almost gave up on the idea of the additional screen," Iwata said in an interview with London's Telegraph newspaper. "This was due to our concern over the expected high cost; it may not have been feasible to create this and sell it at a reasonable price point for the consumers."

The Telegraph interview goes on to suggest that Nintendo eventually figured the cost situation out, suggesting that it will be able to offer the controller for that "reasonable price point" at launch (for Nintendo's definition of reasonable, at least). That price could be more important than ever, as Nintendo announced at E3 that the Wii U would be able to support games that use two GamePads at once, though no such games will be available at launch.

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