Nintendo Says No to Wii U Price Cut

Despite waning demand, Nintendo president Satoru Iwata has said that the company will not apply a price cut for the Wii U.

Speaking to reporters in Tokyo, Iwata acknowledged that Wii U sales disappointed in 2012. Since its launch, the Wii successor has shipped a paltry three million units. However, the executive said he felt it wasn't necessary to decrease the price of the $299 basic set or the $349 deluxe variant.

"We are already offering it at a good price," Iwata said. "I feel a deep sense of responsibility for not being able to produce results for our year-end business." Nintendo's revenue for the nine months ending on December 31 was $6 billion, a 2.4 percent decrease when compared to the same time frame in 2011.

Mario creator Shigeru Miyamoto told reporters that demand for the Wii U will be propelled once consumers try the console out and "see it is fun."

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