Wii U price cut ruled out by Nintendo president Iwata

nintendo wii u 3DS

Nintendo's latest financial results show that the Wii U hasn't performed as well as the company had hoped, but you shouldn't expect a price cut to alleviate that any time soon. That's the message from president Satoru Iwata today, who told investors that since the console is already sold at a loss for Nintendo, there are no plans to further reduce the price.

Iwata says Nintendo has learned its lesson from the 3DS, which launched at a profit-making price of $249.99 before poor sales forced the company to dramatically slash the price to $169.99. The Wii U is priced at $299.99 for a basic set and $349.99 for a premium package with more internal storage and a game included.

"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. 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."

While Iwata is disappointed with the Wii U's performance, he attributes this to a failure on Nintendo's part to communicate the product's advantages to consumers. Those who have bought the Wii U have "a certain degree of satisfaction with our product value," says Iwata, but "its value by nature is something that takes time to appreciate and hence cannot be spread amongst society instantly."

Nintendo has cut sales forecasts cut for the rest of its financial year, but predicts a return to profitability next year; if the company is to reach that goal, Iwata's primary task must be to convince customers of the Wii U's benefits. He says Nintendo will "work to enrich the software lineup, which could make customers understand the appeal of Wii U," and points to the titles announced last week as examples. Those titles, including new entrants in the Super Mario, Zelda, and Mario Kart series, will be released from "the latter half of this year to next year."

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