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Recession, and no blockbusters so far.

Wait and see the effect Wii Sports Resort has in America and Others, and the effect of Monster Hunter 3/black Wii in Japan. If neither of those do anything significant or sustained, then Nintendo may begin to consider price drops. Or they might just wait for Mario Brothers Wii and Wii Fit Plus and see what effect they have, before they cut prices. Or they might throw out the black Wii in Europe and America.
They'll want to hit their shipment targets for the financial year, and should do with their big first party titles and a possible price cut.