Rumor: Wii 2 will cost $400

The Wii’s successor may be the most expensive Nintendo device ever.

That is, if you believe the latest speculation. IGN says it has it on good authority that Nintendo plans to target a price point for the ‘Wii 2,’ reportedly code-named Project Cafe, of between $350 and $400.

That would make it not only the most expensive home console on the market, but also the most expensive device Nintendo has ever released.

That’s quite a different approach than the Wii, which launched at $250, a price that the five-year-old PS3 still hasn’t been able to reach.

But after the Wii has fallen into complete obsolescence (it doesn’t have a strong online platform, there is very little storage capacity, and it can’t even produce HD video), there are reports Nintendo will break out the big guns for its next console.

The Wii 2 will reportedly use a more advanced graphics chip than either the PS3 or Xbox 360, and one of the most substantial rumors so far is that it will use high-tech controllers with built-in touch panel displays – making the controllers almost like miniature game systems themselves.

Perhaps Nintendo is realizing it can’t just be different and unique, but it does actually need to step up its technology if it wants to be taken seriously.

It’s widely expected the new console will be revealed for the first time at E3, which begins in the second week of June.