It will be priced in the $400 to $450 dollar range. This wouldn't be totally uncharacteristic for Nintendo either if you look at their previous console release (adjusted for inflation).
Adjusted for inflation for comparison with today's market Nintendo's console launch prices in the USA were:
NES (1985) - $242 *($99)
SNES (1991) - $396 *($199)
N64 (1996) - $333 *($199)
NGC (2001) - $281 *($199)
Wii (2006) - $296 *($249)
As you can see from the case of the SNES, Nintendo has launched a successful, market-leading console at, essentially, a $400 price point. By contrast the NGC launched at a full €100 lower than the Xbox and PlayStation 2, which launched at $299 each, but finished in last place. It's not price, but perceived value for money that drives buyers to purchase a product in my opinion. Therefore I think Nintendo could launch their console at $450, providing they had a good launch line-up of quality games.
*Original USA launch prices.
** Long term USA inflation figure of 3.5% used for calculations.
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