Nintendo not planning to cut Wii price

Chicago (IL) – Satoru Iwata, president of Nintendo said that the video game creator does not plan to make any pricing changes to its Wii console  even though unit sales are declining in Japan. The company admitted that the Wii has hit its lowest sales level in the Japanese market yet.

“The Wii is in the most unhealthy condition since it hit the Japanese market,” Iwata said. “The current condition in the Japanese market is not the one we want.” Sony’s Playstation 3 outsold the Wii in Japan for the first time in 16 months. Nintendo sales have dropped by almost two thirds since March 2008.

Iwata does not feel that a reduction in price would make any sense at this juncture, as Nintendo is already the market leader. “A price cut in a difficult economy cannot really excite the market and drive up sales. As of now I really don’t think that a price cut is a good option for us,” Iwata said at a news conference.

Nintendo hopes that the launch of new games and software like Wii Sports Resort will boost console sales.