Nintendo is probably already working on a revision, arf. But they will only release it to increase sales, arf. No need to lower price if sales are steady, arf.

Problem with that is most of Nintendo's audience lies within nations with very advanced economies (30000+ USD per capita nominal GDP) ... 

Nintendo struggles a lot in poorer region such as Eastern Europe, the rest of East Asia, Western Asia, Latin America and they'll probably continue to struggle against Sony in mainland China too if PS4 ever hits the magical $149 price point just like Hong Kong or Taiwan since Nintendo's only advantage in the censorship process can be circumvented by adding region specific patches ... 

Even places like NA, Japan, and West Europe have millions of consumers with lower income.

Look at the platform totals http://www.vgchartz.com/analysis/platform_totals/ Nintendo never made good numbers for home consoles in Europe compared to the North American market. Even the Nintendo Wii sold significantly less in Europe. Now, compare the NA and Europe numbers of Sony's home consoles. Europe always sold on eye level. The majority even sold actually better (PS2, PS3 and PS4 so far). Pretty interesting, right?

One reason why the Playstation brand is so successful in Europe is because people over here have not much interest in the Xbox brand (except UK). If you want to buy a cutting-edge console and you basically have only one option, well, guess what, you will opt for that one option. (Xbox is no real option as it has no real acceptance in the mass market in Europe and 9 out of 10 of your friends you play online with will have a Playstation. Back in the days, N64, Saturn, Dreamcast and Gamecube weren't real options as well because they were all flawed in one or more departments - they all were, together with the original Xbox, just niche consoles).

Nintendo really needs to start a huge marketing offensive in Europe to bring that numbers closer to the NA market. Currently, the European market still just consists only of UK, Germany and France really. The rest of Europe have either a too small population (Scandinavia, Benelux, Austria, Ireland, Switzerland) have a weak buying power (Italy, Spain, virtually all EU countries which don't belong to old Europe + Turkey) or are a combination of both (Portugal, Greece). They are just good for some pocket money. Of course, the combined amount of pocket money made from all those countries is still something.

You are right that Nintendo home consoles always do much better in America compared to Europe but its a different story for their handhelds.

Gameboy, DS & 3DS sold only a slight bit more in America than Europe, GBA is the exception which sold much better in America.

If Switch follows closer to handheld trends than it could put up similar numbers as America.

Not true exactly the brand is popular in Europe because it was the first platform to be handled in a proper commercial manner ask any gamer in Europe who was around before the PS1 introduced its mainstream approach gaming was an inconsistent element back then we often had to wait years after other regions for releases if a release happened at all and a large bulk of games often never made it to the pal region. Playstation was the first platform that heavily fixed the problems in the region by handling the whole region as one entity in the same way as the US, the result was more consistent releases and reduced time between releases of games in different regions.

Yeah it didn't get rid of the problems but it improved how EU was handled as a region this why the brand is strong in Europe it's nothing to do with cutting edge tech it was more about being the more consistent brand.

Nintendo was never competitive in Europe all the way back to the third generation. The Sega Master System outsold the NES despite the NES dominating the US and Japan. It's no surprise that Nintendo's systems have done the best there. 

Sony's rise in gaming had more to do with them removing the licensing requirements from and Sony was able to leverage the company's larger asset pool. When Sega was beaten, Sony took the market from them.

Nintendo does well in some European countries (like France) and poorly in others (like the UK). I don't see that changing unless Nintendo can create a new megahit that appeals there or hope the Switch takes off like the DS did. Europe, in general, doesn't have the same iconography with Nintendo as other regions do, and Nintendo relies heavily on that. Not to say this will hurt Nintendo's ability to sell 20 million. It's more why they struggle compared to Sony systems. 

Well, true. It wasn't an official announcement. But it was reported by the Wall Street Journal, and it IS very likely to be true.

If they announce they hope to sell 20 million, they're likely aiming even higher than that internally. And for that to make sense, they really do have to produce those 25-30 million.

Sony has always had a bigger (budget wise) and better marketing push in Europe. When you look at for example their presence at football games, almost every match with perimeter board advertising has Sony's products on them. The old electronics branding association in Europe is also strong, it stood for quality in Europe for a long time. It's  hard to beat that when it's so ingrained. However, Nintendo doesn't do nearly enough as advertising in Europe as in NA and Japan. There are very little tv commercials here for the Switch, and no movie theater or football match advertising. Those three are very important for them if they want to succeed.

Totally possible if Nintendo can maintain this momentum. Smash 5 and Pokemon oughta do the trick.