Well the Wii U at this point is a sinking ship, so either they find a way to save the Wii U or abandon it. Also if Super Smash bros, Zelda, MK8 don't help pick up Wii U sales then I don't know what will. 

seriously? how could you possibly think that?

They're already taking a loss on each Wii U sold right? So a price cut that deep would hurt. No they shouldn't do it.

End of 2015. Nintendo got the Gamecube down to $99 pretty quickly.

If I were them I would tell nintendo to treat it like how sony treats the vita at this point cause the WII U is truly a lost cause for the most part. I would redistribute their resources towards the handheld side. Those games likely won't do much if you ask me. 

Nintendo needs to massively slash price near the time of big-game releases, which can be Mario Kart 8 and SSB4.

The 3DS got a price slash but didn't sell THAT much better until holiday releases came around, even an OoT 3D Bundle on top of 3D Land and Mario Kart 7. it was a combination of things all at once that propelled the 3DS into a healthy market share and rate of sale.

No, at least wait until they've had a few of their big releases for this year. If that still doesn't help... sure. They're still taking losses on each Wii U sold now, right? Cutting the price further would probably exacerbate the problem further. Even if they're selling more, they'd very possibly just be losing more money in the long run.
At least if they wait, they have the chance to sell more at the current price, and possibly generate more interest with the next slew of games coming, and hopefully eliminate the need for a price cut in the first place (at least for a time).

Waiting until their big releases have already sold is -too risky- By the time they slash the price, the interest in said games could have waned.

Nintendo needs to slash the price and then combo it with the release of 1-2 big games, like Mario Kart and Smash back-to-back like 3D Land and Mario Kart 7. That's what saved the 3DS, it wasn't the two games alone. They wouldn't have sold nearly as well if they weren't backed by that $80 price cut.

Why don't they just release a version with a pro controller only (so without the tablet controller) ?
That way they can save a lot of money I think.
And make a software update, so you can use your own tablet (ios/android).

I'm sure copy and paste is frowned on here but this guy Tehrik e Insaaf on Neogaf made this very informative post.  If his assertions are true then another price cut would be very tough for Nintendo to stomach.

Tehrik's post:

Horrible numbers. Simply horrible. This misses everyone's most pessimistic expectations for operating income expectations by $400M+ USD and baseline estimates by over $650M+ USD. No one seriously thought they were going to hit $1 B USD in operating profits. Most people were seeing Nintendo hitting 30% of the target as a baseline. That they are expecting a loss for the year of $350M USD is mind-boggling.

Only four things can explain these losses IMHO:

1. Nintendo's gross margins on software must have shrunk dramatically. Meaning that they are barely making any money on their own software much less third party software which has all dramatically dried up on both of their platforms globally. This bodes very badly for Nintendo in general - even if they were able to go third-party and hypothetically sell 2-3X the number of games (which I very much doubt) - what this shows is that Nintendo has lost its pricing power at retail - people aren't ready and willing to pay the Nintendo premium.

2. Nintendo bled money at retail trying to push hardware - far more than anyone expected - they must be eating close to a $100+ loss per Wii U sold right now or more - not just because of manufacturing cost - but because they are literally having to compensate retailers to provide them with shelf space and having to eat the price drop at the same time. This is horrible - because even if they take that much of a loss - the low gross margins on their own first-party games isn't sufficient to help them break even.

3. Nintendo isn't going to get Mario Kart or Smash out by early April - otherwise they would have been able to book orders under the current fiscal year. It looks like both games are going to be delayed well into the summer or into the Fall now. I am almost 100% positive that if it were even possible to get the games out by April or May - Nintendo would have done everything in their power to do so. It looks like Nintendo still hasn't effectively transitioned to HD development - not because of capability - but because they want to preserve gross margin based on their lower expected revenue numbers - and it's compromising their ability to get projects out the door on-time.

4. Nintendo is playing shell games with their accounting - booking contractual payments to Intelligent Systems and their other closely related entities as operating losses for tax purposes but which are effectively asset purchases - it means that they are dramatically restructuring their teams and it's going to be far more expensive than we thought.

If these estimates hold up - Nintendo will have generated a $1 B+ operating loss over the past three years. Here's the kicker though: Nintendo is still sitting on over $1 B+ in inventory that they haven't impaired yet (the IR report makes no mention of it). There is a good chance that over 80% of that is Wii U hardware which means that it's going to continue to be a drag on earnings over the next twelve months.

In any case, I don't foresee any major changes for Q3 happening. Nintendo is still going to engage in a buyback of 5% - which is going to drain their cash by another $1 B USD.

That means in three years Nintendo's war chest will have been depleted close to $2.5 billion USD from inventory impairment, operating losses, and share repurchases. Another $500M USD is going to be gone for asset / real estate purchases and capital investments. Their next hardware projects are going to require about ~$1.5 B USD in capital reserves at a minimum that are going to be tied up in the next two years as they wind down their existing platforms, and I don't see third-party licensing revenue coming back in a big way to offset declining gross margins on their first-party software.

Basically that means Nintendo could burn through ~$4 B in cash throughout this entire cycle and in anticipation of the next, with a very high cost structure intact. Like Sony, they will have effectively wiped out cumulative years of profit.

If we assume that Nintendo keeps building up human resources this coming year to meet their hiring targets, they are probably going to break-even in terms of operating profit for the next fiscal year or make a slight profit - but I'm even second guessing my own ability to understand Nintendo's gross margins now - someone at NOA or NOE is effectively writing giant checks to retailers to keep the channel alive - and that's really not good at all - Apple was in this same position in the late 90s and had to create their own retail stores to stop bleeding money to major retailers. Nintendo isn't going to have the investor support to launch a giant retail project in the US and EU, particularly when they no longer have proven pricing power which would be the primary argument to go that route.

Difficult time to be a Nintendo shareholder.