
Nintendo Co. ruled out a price cut for its smash-hit Wii video game console Friday and announced the company will begin selling the Wii in China next year.
Nintendo President Satoru Iwata also unveiled a gift-giving feature that will allow users to send each other games over the Internet, boosting the Wii’s network offerings.
Profits at Nintendo have surged on the runaway success of the Wii and the portable Nintendo DS machine in North America, Europe and Japan, forcing Sony and Microsoft to slash console prices in a desperate catch-up bid ahead of the holiday season.
“We’re still focusing on how to meet booming demand,” Iwata said Friday. “We’re absolutely not considering a price cut.” He said Nintendo was producing 1.8 million Wii consoles per month but that a supply crunch was inevitable during the holiday gift-buying season.
Read the rest of this entry »