Wii U price cuts ruled out by Nintendo chief

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TOKYO – Nintendo’s president spoke Thursday and ruled out price cuts for the Wii U console.

According to the Associated Press, Satoru Iwata, speaking at a Tokyo hotel to investors and reporters a day after earnings were released, ruled out price cuts as a way to boost sales, vowing to become profitable again in its core businesses as smartphones and tablets increasingly threaten game machines.

Iwata acknowledged the sales momentum for the Wii U, as well as the 3DS hand-held game machine, had run out of steam during the key year-end shopping season.

However, he said no price cuts are in the works.

The Wii U now sells for about $300.

Source: Associated Press