Nintendo is set to cut the price of its gaming Console – Wii which will see the motion control based gaming console retail for 199$. Nintendo had to cut the price of their gaming console after Sony launched the PS3 Slim last month for only 299$ and Microsoft reducing the price of Xbox 360 to 299$ as well. The introduction of PS3 Slim definitely helped Sony as they saw a 104% increase in the sales of their console.

Of the 3 gaming consoles currently available in the market, Nintendo Wii has the weakest hardware and at its current price of 249$, it definitely does not look attractive. Engadget were the first one to post about the price drop on their site.  Since its launch 3 years ago Nintendo has never dropped the price of the Wii. The price drop in lieu of the competition is definitely a good news for Wii fans.