Nintendo's president has ruled out price cuts for the company's slumping Wii U video game console, after Nintendo announces that they have cut sales forecast for the new machine.
According an article from the Corporate Management Policy Briefing from Nintendo, Satoru Iwata told investors and reporters that the sales momentum for the Wii U and 3DS had run out of steam during the holiday season, especially in the U.S. But he said that no price cuts were 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. 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"
The president acknowledged that the company would have to do a better job at marketing the new console and it unique touchscreen Gamepad globally to draw buyers.
"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," he added.
Iwata also said that the company would have to continue to improve the new gaming system through system updates in order to increase the appeal of the platform.
"We are receiving many comments and requests from consumers about issues such as the time to start up the system and switch between software, and the duration of the initial system update," Iwata explained. "I acknowledge that we will need to further increase the appeal of the platform through the system updates we have planned for this spring as well as this summer."
Nintendo recent cut it end-of-fiscal year estimates of 5.5 million Wii U consoles sold to 4 million and its video game estimates from 18.5 million to 15 million. You can read more about Nintendo's estimates and console sales here.
What do you think about Nintendo refusing to slash the price of the Wii U? Would you purchase a Wii U if it were say $250? Let us know what you think in our comment section below...
