It is the first time the Wii has seen a price reduction since its initial launch on the market in late 2006 — the longest a game console has ever gone at its initial price.
""We expect the price cut, coupled with the release of several key first-party titles, to spur demand for the console, helping to provide the console with some momentum going into the holiday season,""
The Wii has been the most popular of the latest generation of gaming consoles, outselling the PlayStation 3 and Xbox 360 since its launch. More than 50 million units have been sold to date globally, according to
However, the console has also suffered from a recent slowdown in sales, along with the rest of the industry. The Wii sold 277,400 units in the U.S. during the month of August, according to data from the
Less than two weeks later,
Analysts predict that the holiday shopping season will make up for a weak spring/summer period for the industry. Game sales fell for their sixth consecutive month in August, according to NPD data. Sales are expected to move back to gains in September thanks to lower console prices and popular games such as ""The Beatles:
""A competitive console market with incremental price cuts have historically helped to drive strong software sales through the course of the video game cycle,""
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