Iwata Not A Fan Of Console Price Drops News

Satoru Iwata, Nintendo's CEO and President, has expressed his dislike of console price drops, suggesting that it sends out a mixed message to consumers, which he believes is "a mistake".

"This is my personal thinking, but when the model's price-tag drops over time," Iwata told Touch-DS (translated by Kotaku), "manufacturers are telling consumers it's better to wait, and I've always thought that was a mistake."

Iwata added that those who bought consoles from manufacturers at launch should not feel like they've made a loss on that purchase.

In other words, don't expect a price cut for the Wii any time soon, which currently resides slap bang in the middle of the home console price range at £170. Microsoft's most recent price cut on the Xbox 360 has made its Arcade SKU the cheapest system on the market by a margin of £50 over the Wii, while the PS3 will currently set you back a whopping 300 smackers.

This news comes as Nintendo's new DSi has sold out its initial run of 170,779 units only days after the handheld console's release in Japan.

Despite Iwata's "personal thinking", Nintendo hasn't been averse to price cuts in its previous generations of consoles. The Nintendo 64's RRP was cut by 15% in Europe 18 months after the console was launched, while the Gamecube received many price reductions over its lifetime as the console's sales figures struggled.