Iwata: Wii Suffers in Japan But No Price Cut

Nintendo's president, Satoru Iwata, has acknowledged that Wii sales are flagging in Japan.

"Wii (demand) is not vigorous at the moment in Japan", Iwata told reporters in Japan. "In fact, it is in the most unhealthy situation since its launch in Japan... The current condition in the Japanese market is not the one we want."

He ruled out a price cut to stimulate demand, however. "A price cut in a difficult economy cannot really excite the market and drive up sales. As of now I really don't think that a price cut is a good option for us", he said.

"If our products are not much different from competitors', price cuts would generate significant fresh demand. But video games are just not that kind of product."

He did not lay all the blame at the economy's door, however. He noted that in Japan consumers get bored of new entertainment more quickly than in other territories.

^{Sources:
Reuters
Forbes}