|
Nintendo Co Ltd will cut the price of its popular Wii video game console by 20 percent, responding to similar cuts by rivals Sony Corp and Microsoft aimed at kick-starting demand. Nintendo said it would lower the price of the Wii by $50 to $199.99 in the United States starting Sunday. The price in Japan will fall by 50,000 yen to 20,000 yen on Oct. 1. The move makes Nintendo the last among its peers to cut prices. Last month, Microsoft Corp slashed $100 off the price of its high-end Xbox 360 console and Sony Corp cut the price of its PlayStation 3 by $100. Nintendo has so far outsold its rivals in this generation of consoles. It has succeeded in broadening the gaming population by offering intuitive and easy-to-play games rather than focusing on life-like graphics like Sony and Microsoft. But Wii sales have tailed off in recent months and competition was set to get tougher after its rivals cut prices. "Given signs of sluggishness in Wii sales recently, cutting the price at this time should be positive for Nintendo," said Mizuho Investors Securities analyst Etsuko Tamura. "Nintendo should be able to retain its dominant position." Shares of Nintendo were up 1.4 percent, roughly in line with the broader market. Reports about the Wii price cuts first appeared on blogs including Kotaku and Engadget. Sony said that sales of of the PS3 totalled 1 million in the 3 weeks since it launched a slimmer, cheaper version of the game console. Prices for both Xbox 360 and PS3 now start at about $300, although Microsoft also sells a low-end model, the Xbox Arcade, for about $200. Video game industry sales have slumped over the past six months, and hardware sales in August declined by 25 percent, according to research group NPD. Analysts have pegged the drop to cautious spending by consumers in the tough economic environment, and a dearth of top-selling games. Long-awaited console price cuts and new games, including updates to the "Halo," "Guitar Hero" and "Call of Duty" franchises are expected to boost sales in coming months. |
Tags: Tokyo Game Show 2009
Mixx
Facebook
Twitter
Digg
delicious
reddit
MySpace
StumbleUpon
LinkedIn
An Interview with Ronnie Screwvala
We sit down with the head of UTV who gives us the lowdown on his gaming plans.
Tech2's TGS 09 Experience
TGS 09: Reich Impressions
TGS 09: WarDevil Impressions
TGS 09: Crackdown 2 Impressions
TGS 09: Alienware Launches New Gaming Rigs
TGS 09: Cameron/Ubisoft Avatar Game Due End of 2009
![Final Fantasy XIV Online Tokyo Game Show 2009 Trailer [HD]](http://i.ytimg.com/vi/aforcYOwXAE/mqdefault.jpg)
![Lost Planet 2 Tokyo Game Show 2009 Trailer [HD]](http://i.ytimg.com/vi/qPM9TxgZlO4/mqdefault.jpg)
The latest "should they-shouldn't they" event with Facebook is the lift of the minimu...
Leaked Images, Availability, Pricing,
Specs, Pre-order
We go hands on with Spec Ops: The Line and come away rather unimpressed.
By Avinash Bali
As the heat destroys any inclination to leave the confines of your room,...
By Avinash Bali
Have you ever wanted to shoot someone in the crotch and then watch the...
By Avinash Bali
Beetel GD 777 touchscreen mobile phone for Rs.5,499
Vaibhav Dewada
Sun May 27, 18:01:15
Samsung launches ES8000 Smart TV series in India
Anand Jomde
Sun May 27, 17:54:30
PS Vita officially launched in India
Asif Qadri
Sun May 27, 12:27:05
_011517074205_160x90.jpg "Epson Stylus Photo R3000")
Sony to roll-out ICS update next week,...
BlackBerry Curve 9320 announced in India...
Microsoft VP talks about Ballmer's...
Cisco won't invest in their Android...
About Us | Site Profile | Tech2 Team | IBNLive News | IBNLive Hindi News | Cricket News | Indian Stock Market | Policy | T & C
Copyright © 2011, Tech2.com India - A Network 18 India Venture
