Rumor: Nintendo dropping Wii price to $150 on May 15th [Update: Proof?]

At $200, we think everyone would agree that Nintendo's Wii could use a price drop ... but it's hard to justify when the console is parked at the top of the sales pile. But what about when the console is regularly outsold by the Xbox 360 in North America? The last $50 price cut was nearly 18 months ago, an eternity in the fast-paced world of console gaming.

Engadget has a "trusted source" that says a $50 price cut is coming May 15th, just over a month from today. "But that's less than a month before E3," you protest. Yes, that's true and we're right there with you, in Skepticalville, a place where Wiis are $250 and major announcements happen under the bright lights of an E3 keynote.

[Update: A reliable tipster has provided two images from Kmart's inventory system(s) listing a $149.99 price for the console. Some thoughts: This would seem to indicate the console is on sale now, which it isn't, and that Nintendo is buying systems for $190 and selling them at a loss, which we don't think they would do. What we're saying is: take the below images with the appropriately weighed and portioned grain of salt. Without further adieu, the images!]

This article was originally published on Joystiq.