http://venturebeat.com/2013/06/13/nintendos-scott-moffit-on-staying-relevant-in-this-console-generation-interview/

GamesBeat: Have you thought about changing the price?

Moffit: No. We have no plans to change the price of Wii U. The Wii U is a great value. With great content coming, that will drive the hardware installed base. We’ve gone from being the highest-priced console on the market to now being a great value with the announcements from our competitors. The perception of our price has changed, but what’s also changed is that people now see what great content is coming. They’ll see the value in those games. They’ll be able to enjoy a Wii U in their household for a lot less than a competing console.

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I like the underlying idea. But the system IS overpriced, in my opinion, much like the 3DS was.

LOL!!!!!!!!!!!!!! is this real life? is this guy for real? $50 less : /

Well that sucks. But he could also be full of it. At the very least they should release a bundle with a game besides Nintendo Land for 350.

While I agree there is some value there (not having to pay to play online, not having to worry about used game policy) - I disagree about the great content coming fast enough. Mario Kart 8 should have been their focus for this holiday, oh well.

I thought for sure that a 399 ps4 would cause them to drop their price to 299.

They don't need a proper price drop. They just need a model with more internal memory, more color options, and some bundles for their holiday lineup.

They need to bring down deluxe to $299. Don't even pack in a game, just $299.

No one's buying basic because it sucks. Then are are the people that don't enjoy Nintendoland.

"They’ll be able to enjoy a Wii U in their household for a lot less than a competing console."

So, $50 cheaper than a PS4 is a lot less? 

I realize that Nintendo can't react exactly as they did with the 3DS due to the loss difference but I still think this is a mistake.  A $50 price drop for each SKU seemed like a no-brainer this holiday - particularly with no Mario Kart this year.

There just has to not be a $349 model. Nobody is going to buy a Wii U with a 32 gig hard drive when they could buy a PS4 with a 500 gig drive for $50 more.

I want some ambassador games :(

Really bad move. A price cut will give the system so much needed momentum. I guess Nintendo will wait for 2014 when all the other games come out.

I think they put too much faith in the games they showed at E3. Personally I think those games only cater to the Nintendo fanbase, but the fans will buy the console regardless. IMO