Nintendo Announces Wii Price Cut

Starting this Sunday, the Wii’s price will drop to $199, in response to price cuts by rivals Microsoft and Sony. The Xbox 360 Elite and PS3 prices have both been cut to $299 and Nintendo hopes this latest move will give a boost to Wii sales as we enter this year’s holiday season. Sales of the Wii console in 2009 are down 10% from 2008’s blistering pace and Sony is gaining momentum with their new PS3 pricing.

While the price cuts may help this years sales numbers, it looks as though 2009 will be the first year since 2004 that the gaming industry will see a year-over-year sales decline.

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