No Price Cuts Coming for Slow-Selling Wii U

Nintendo President Iwata is sticking with the current price

Jan 31, 2013, 10:41 am EDT | By Nate Wooley, InvestorPlace Writer

Despite slow sales, the price for Nintendo‘s (PINK:NTDOY) Wii U won’t be coming down.

Nintendo President Satoru Iwata made the announcement in Tokyo yesterday, reports the Associated Press. During his talk, Iwata confirmed that sales for the Wii U, as well as the company’s 3DS, were slower than expected during the recent Christmas season.

Iwata said the Wii U — which sells for $300 in the U.S. — is already selling at a good price and that no cuts would be used to spur sales. He went on to say more work will be done to educate consumers about the game console.

Iwata also said he expected Nintendo to show an operating profit of 100 billion yen for the 12 months ending March 2014. He told investors that was “a commitment.”