Nintendo President Satoru Iwata said that the company he runs does not sell a product similar to others in which case cheaper prices mean selling more. However, in the case of video games, this theory does not apply, said Mr. Iwata during a Tokyo news conference while answering a question on how is Nintendo dealing with the economic crisis that has hit the entire world. 

 

"If products are similar, then people are going to look at which is cheaper," he said at the Foreign Correspondents' Club of Japan. "We do not think our video game machines are that kind of product."

 

However, Mr. Iwata did say that Nintendo isn’t excluding a price cut in the distant future, but for now it just won’t happen. He added that, despite the falling consumers demand, the video games consoles and video games remained in the top of the personal wish lists of many people. The video games industry has recorded a record growth during the past two years and it doesn’t seem to stop. 

 

Nintendo has sold more than 50 million Wii consoles worldwide since late 2006, and about 100 million Nintendo DS portable handheld game consoles, unlike rival companies such as Microsoft and Sony. Sony’s PlayStation 2’s price was cut by $30 TO 

 

The price of $250 in the U.S. has never been cut so far $99.99.