Despite waning demand, Nintendo rules out Wii U price cut

From CNET News.com: The Wii U's troubles attracting gamers won't be solved by a price cut, Nintendo chief Satoru Iwata argues.

Speaking to reporters in Tokyo yesterday, Iwata acknowledged that Wii U sales disappointed last year, but he didn't necessarily feel that dropping the price of the $300 Basic Set or the $350 Deluxe Set would do the company much good.

"We are already offering it at a good price," Iwata said, according to the Associated Press, which was at the reporter briefing.

Nintendo yesterday announced its earnings for the nine-month period ended December 31. Although it was able to turn a slight profit, the company's revenue was down 2.4 percent. The Wii U, which was expected to significantly boost Nintendo revenue during the period, was only able to muster 3 million unit sales. The earnings release didn't directly discuss Wii U demand, but Nintendo indicated that some new games for the console, like a Mario Kart and Legend of Zelda, should "help Nintendo regain momentum for Wii U."

In his discussion with reporters, Iwata said that the Wii U needs more and better games to drive console sales, and so far, that issue "has not been solved."

"I feel a deep sense of responsibility for not being able to produce results for our year-end business," Iwata said.

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