A couple days ago, Nintendo made a shocking announcement that they are already dropping the price of the recently released Nintendo 3DS and that they are no longer turning a profit on the handheld.  This announcement was made by Nintendo President Satoru Iwata to investors.  Iwata also announced that himself and other top executives have a taken a paycut to the tune of half of their salary as a result of the fall out.  Now that everything has sunk in what does Iwata have to say now?

Giant Bomb deciphered a letter that Iwata published where he issued another apology, spoke of a 3DS Ambassador Program for those that bought the 3DS prior to this announcement, and asked that fans be patient while waiting for the next Mario games that are coming out on the 3DS in November and December later this year.

via Giant Bomb.

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Pretty big deal to drop it below profit margins. Guess they're banking on game sales now.

Question is, are they going to raise the price of it after the Mario games are successful? Or do they know that it's going to completely fail, so they are taking measures to sell units before people realize it's a piece of ****? The Wii-U doesn't look too hot either. My crystal ball predicts that Nintendo will stay at the bottom of the gaming heap for a long time, I don't know what can give them oxygen now.

I highly doubt you'll see the price go back up. That's pretty much commercial suicide. As for the Wii-U I just don't get the controller. It's going to unnecessarily drive the price of the console up. Should be sold as an extra or perhaps like the kinect where it's bundled if you want it.

Isn't the controller an integral part of the console? Nintendo, WHAT WERE YOU THINKING....

The Wii was an interesting concept and as a gimmick people ate it up as it was released until the past year or so. Will people still be mezmorized by it? I don't think so. With the release oft he iPad and other tablet devices, this is the new hot gimmick that consumers are buying and the Wii has seen it's heyday. Not to mention that the Wii already had a low game/system ratio so Nintendo really depended on pushing systems. I think you're seeing what happens when you offer great hardware but the software seems to be lacking.

Cows will still eat grass and pigs will still roll in poo. Nintendo was leader in gaming for many years on the formula of software. Do you blame them for trying something different? Just goes to show, success will sometimes come when you stick with the familiar. Nintendo got lucky with the Wii...that's all they got lucky with. Their software was innovative genius, and they even used a licensing system for it. That was their familiar skill. Then they went on top of sales with the Wii, which was a leap of faith. You can only push it so far though, and yes I think Nintendo's day has come and gone.