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."

Read 4 remaining paragraphs | Comments