Cutting camera, NFC and other things would be stupid. The TV-button, well, how much does it cost? IR-sensor is in the Gamepad anyway.
Going with a 5"-5,6" touchscreen (yes, smaller, resolution isnt that great so it would actually look better), better ergonomics and some price cutting at the same time.
Replace Gamepad charger with USB-loadingcable. That recharger sure is mor expensive than cradles, HDMI-cable, sensorbar and some other small things together.
Die shrink and mainboard redesign, reducing cost for the chips, reducing power consumption, thus cooling might be a little cheaper and the PSU could be smaller and cheaper as well.
It would be the wrong way to through important features overboard. And the USB ports are actually needed. But
there might be a few bucks to be saved with smaller powerbrick and recharger replaced with USB cable, a redisgned, maybe smaller Gamepad could save a lot and the die shrink would definitely save money.
Think about 20nm CPU and GPU, possibly on one die instead of the expensive package they have right now. That would save money. Much more than getting rid of a little bit of plastic.
And that is not only for making Wii U cheaper. Nintendo could as well go and make more money on sold hardware.
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