The Nintendo Wii seemed like it was untouchable, with retailers quickly selling out of console units for months after it was released. But recent sales struggles have left some wondering if it's time for the Wii -- still priced at $249 -- to finally make a price cut to entice consumers to spend money during a recession.
Both the Sony PlayStation 3 and Microsoft Xbox 360 game consoles have undergone numerous price reductions, with Nintendo able to keep the $249 price tag. There are rumors the PS3 will receive a $100 price cut next month to coincide with the launch of the latest Madden NFL game.
NPD Group sales figures indicate Nintendo has suffered a whopping 57 percent year-on-year drop when sales numbers were analyzed. The company reportedly has "no plans to reduce its prices at this time," even with the Xbox 360 available for $199.
Since Nintendo aims to ship 26 million Wii units during the fiscal year -- scheduled to end on March 31, 2010 -- it's unlikely the Japanese company will be able to make that sales figure without slashing prices.
Nintendo may not have any public announcements regarding price cuts, but I expect something to happen prior to the 2009 holiday shopping season. The company will face pressure not only from better priced Xbox 360 and PS3 consoles, but both consoles also have growing game catalogs that could outshine the Wii's game portfolio.
If the Wii receives a price cut, would you consider buying it?
