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Wii is so far in front of the competition it does not need a price cut this generation. So the competition may eventually slightly close in on the Wii it does not matter.
Nintendo makes more profit on the Wii now than it did when the Wii first launched the sales price of Wii has remained unchanged.
Over time costs of production goes down. If there was going to be a Wii price cut it would be late 2010 at the earliest.