Iwata: No Wii price drop in 'near future'

A Wii price cut could be just the thing to spoil Kinect's and Move's first holiday season, but, according to Satoru Iwata, it's not going to happen. In response to a question about a potential price drop, Nintendo's president recently told investors (as translated by the Associated Press), "Of course, we cannot say it will never happen, but we are not thinking of it for the near future." Instead, Nintendo is offering the limited-edition red Wii to lure new consumers to choose Wii this holiday.

Of course, in August 2009, Iwata similarly denied plans to drop the Wii's price. "At present," he said during an investor meeting at the time, "we're not thinking of doing anything with the price." And then the price was cut by $50 a month later.

This article was originally published on Joystiq.