Nintendo: Wii Price Staying at $249

Despite price cuts coming from both Microsoft and Sony in preparation for holiday season sales of their next-generation consoles, Nintendo is opting not to follow suit. The company says it is selling every single $249 Wii console it makes, and thus has no reason to drop the price.

Microsoft has dropped the cost of the Xbox 360 by $50, while Sony has introduced a cheaper 40GB model in Japan and Europe. It is rumored that Sony will lower the price of the new 80GB PS3 once 60GB stock is depleted, but no concrete statement has been made. "We'll stay at $249 for the foreseeable future," Nintendo senior vice president of marketing George Harrison was quoted by Reuters.