Well, they dropped the price of the N64 weeks after launch and the Gamecube even got a price drop before it was released...
They'd lose a lot of money on the hardware if they cut the price but if the numbers on VGChartz are correct then the Wii U is already dead in the water and an early price cut the only thing Nintendo could do. Seriously, 50k in early January is worse than the Gamecube did and even worse than the Vita. The whole console is a mess that could've easily been avoided if Nintendo wasn't so keen on pushing controllers with giant screens or trying to get the "hardcore" gamers to buy their system (read: play on Microsofts and Sony's home turf instead of their own)
Current sales are definitely horrendous enough to warrant a quick price cut. Nintendo is in panic mode right now - otherwise Iwata wouldn't tell the press things are alright.
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