Nintendo Vows Not to Overprice Wii U Console

There's plenty we already know about Nintendo's upcoming Wii U console. We know it will ship with an IBM Power-based multi-core processor, AMD Radeon-based graphics, internal flash memory, 802.11b/g/n Wi-Fi, an optical drive, and various other odds and ends. One thing we don't know, however, is how much the console will cost. According to Nintendo, we needn't worry about the Wii U being overpriced.

In an interview with a Japanese newspaper, Nintendo CEO Satoru Iwata said Nintendo learned a bit about pricing consoles after the backlash it received with its 3DS console.

"We won't make the same mistake we did with the 3DS, which was considered relatively high by consumers," Iwata said.

Nintendo initially launched its 3DS handheld console at $250, a price point that proved too expensive for gamers. Nintendo may have overestimated the demand for 3D visuals, and it didn't take long for the price to drop to a much more reasonable $170.

The Wii U also has a unique hook, that being the tablet-style gamepad. Combined with baked in social networking features, Iwata says "it's like no other system before it." As long as it's not priced higher than any other system before it, the Wii U has a shot at being successful.