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Nintendo announces launch date and price for Wii

by Shubha Krishnappa - September 14, 2006 - 0 comments

In the midst of gaming console war Nintendo Co. has announced the launching date of its next-generation game console Wii. The Kyoto, Japan based producer of Super Mario and Pokemon games, will launch its new Wii console on 2 December in Japan, betting a low price will attract holiday shoppers and make up for a debut that comes three weeks after Sony Corp. launches the PlayStation 3.

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[quote=Shubha Krishnappa]<div class="flexinode-body flexinode-1"><div class="flexinode-textarea-1"><div class="form-item">
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 <p>In the midst of gaming console war Nintendo Co. has announced the launching date of its next-generation game console Wii. The Kyoto, Japan based producer of Super Mario and Pokemon games, will launch its new Wii console on 2 December in Japan, betting a low price will attract holiday shoppers and make up for a debut that comes three weeks after Sony Corp. launches the PlayStation 3.</p>
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 <img alt="Nintendo announces launch date and price for Wii" src="http://www.themoneytimes.com/filess/WII_sm.jpg" /><br /><a href="http://www.themoneytimes.com/filess/WII.jpg">Get original file (6KB)</a>
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 <p>Satoru Iwata, president of Nintendo Co. said Thursday that its latest video-game console Wii will cost 25,000 yen ($215.50, £115) or less. This price is less than half the 59,800 yen for the cheapest PlayStation 3 Sony expects to start selling on Nov. 11 in Japan. </p>
<p>Iwata refused to disclose when the company would be releasing the machine in the US and UK but said US buyers would pay no more than $250 for it. </p>
<p>Nintendo's seventh-generation video game console, Wii, pronounced as the word "we" and formulated to conjure the idea of fun for everyone, will be going head-to-head against PlayStation 3 to gain the affection of game fans during holiday shopping. “We want to propose a new lifestyle with Wii," Iwata said. "We want everyone in the family to play with it everyday."</p>
<p>Indeed, the launch will inflame a three-way battle in the $30bn gaming market with Sony's PS3 and Microsoft's Xbox 360, released a year earlier. But, “The Wii's price and function give it the best potential for growth among the new consoles,” said Naoki Fujiwara, who oversees $720 million in assets at Shinkin Asset Management Co. in Tokyo. Fujiwara sold his shares of Nintendo because the stock price has taken into account the positive news on the Wii and Nintendo DS, the company's portable game player. </p>
<p>Wii is remarkably cheaper than PlayStation 3, which is scheduled to retail for $499 and $599, depending on the features, and 59,800 yen in Japan. As far as Microsoft’s Xbox 360 concerns, it will be keeping up the pressure by rolling out a raft of new games. </p>
<p>Nintendo said Wii will come with an Internet browser, and can be used to look at and edit digital photos on a TV monitor. Nintendo claims its new-style remote control, a wireless wand-like device that can be used like a baton, offers an easy playing style. </p>
<p>For instance, the controller lets users wave around to simulate actions such as swinging a tennis racket, casting a fishing rod and aiming a gun. The device looks alike to a television remote control and is slightly bigger than palm-size. Players can get additional controllers at 3,800 yen each, Iwata said. Moreover, users will be able to create their own game characters.</p>
<p>Initially, the company will have 16 game titles on Wii and increase that to 27 by year-end. The software adds the best-selling adventure-fantasy, “Zelda,” priced at 6,800 yen, and games such as baseball, golf and tennis, Nintendo informs. </p>
<p>Shares of Nintendo gained 0.4 % to 23,100 yen today at the 3 p.m. close in Tokyo, while Sony's stock surged 1.4 % to 5,010 yen.</p>
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