They won't cut the price just to cut the price. They'll need to see that more people buy it at the lower price.
I suspect that they will halve the price at some point to $150, but they'll be pushing it in less-wealthy countries. I don't think that US or Europe need lower prices - if anything people would buy a second unit (which just fudges the sales number and doesn't really make much money for Nintendo)
Install base for selling the games is everything.