No Wii Price Cut Any Time Soon

Despite declining sales, Nintendo will not be dropping the price for the Wii.

Nintendo CEO Satoru Iwata has confirmed that the Wii will not see a price cut in the near future. He explained this to the Associated Press shortly after Nintendo reported its first six-month loss in seven years, due in part to struggling sales figures.

"Of course, we cannot say it will never happen, but we are not thinking of it for the near future," said Iwata. In an effort to reach those who still don't have a Wii, Nintendo released a red colored Wii, bundled with New Super Mario Bros. Wii and a red remote as well as Wii Sports.

For now, Nintendo is focusing imminent release of its new handheld, the 3DS, which goes on sale in Japan on February 26, 2011. The company expects to sell 23.5 million DS units this fiscal year, which ends in March.