With China lifting their console ban, I think Wii still has a decent chance of passing PS1.  

Really? It's nowhere near that cut and dry.

Its not, but considering most of China is still poor, you have to factor in economics.  

I have no idea whether China is still interested in Wii, or if Nintendo will continue supporting the console in certain markets, but the opportunity is certainly there for "cheap family entertainment".

Well the Playstation also hit the $49 MSRP price range, the Wii could easily sell at that price too but Nintendo probably doesn't think it's worth the sacrifice.

$99/$49, makes no difference, console is way cheap enough that if someone wants one they'll get one.

Many reasons why Wii needs to stop production.

1)First party titles are ONLY on the Wii U, all of their focus is on the new system, the only reason third party games are still supported is because companies like Ubisoft, Activision, two of the biggest third party supporters on both the Wii and Wii U, realize that not everyone has transitioned to the 8th generation console.   More proof, look at how successful the Just Dance series is.   Ubisoft would be stupid not to release said games for the Wii as well.   Angry Birds would've been MUCH better if the PS3 and Xbox 360 versions were released alongside of the Wii, and not later, especially since the Wii U does not require a TV.

2)Many retailers have stock of the original Wii.   Many retailers have stock of the new Wii.  Why should the Wii rot on shelves much like the Playstation Vita did for the first year?   A price drop on the "Deluxe"  edition of the Wii U, and a discountinued white Wii U, make the system a little more affordable, and competitive for the holiday year.   Imagine on Black Friday if the Wii U Deluxe sells for $200, while the Xbox One sells for $500 and the PS4 sells for $400, with a much better game library than either console, that is when the Wii U will begin taking off.   Sure, there won't be any EA games, NBA 2k14, however, maybe it will be the kick in the ass Nintendo needs to start working on Elite and DLC support for it's games!   Plus, three mario games, as well as the Gamecube Zelda release will be available.

2014 will be the year of the Wii U.   While PS4 and Xbox one will go through a slump of new games, much like the Wii U and Playstation Vita have, Wii U will be churning out games.   Hopefully they can win back the support of Take Two, EA, and give Bethesda a reason to publish The Elder Scrolls online on the Wii U, which would work amazing with second screen support(Being able to view inventory, messages, and quest information would be epic)   The Wii U needs a few solid JPRG or RPG titles to make it the premiere game system, Earthbound in Virtual Console is amazing, but it needs some retail games.   An eastern release of Dragon Quest X might help, even porting Final Fantasy 11, 13, or 15 would be a step in the right direction.

That's a 50% difference, at $49 it's cheaper than most modern games and would be an instant impulse buy to a lot of people.

Id like to know how much 49$ in 2000 would buy now. Did you see my comment on zero999 profile to you?

Yeah I responded!

I don't think we'll see any consoles go below $99 now, it's just not worth it for such little profit (for everyone involved)

I wonder what effect this will have on sales. Im betting lower revenue and operating cost and profit