Wii Price Cut: Nintendo Drops Price to $199

The Wii is following the lead of Xbox 360 and Playstation 3 by slashing its price.

On Sunday, Nintendo cut the price tag of its popular Wii gaming console from $249 to $199. This follows Microsoft and Sony's price cuts last month on their game systems. Sony's PS3 now goes for $299 (was $399) and Microsoft's Xbox 360 now goes $299 (was $399).

Video game sales have been dipping for five consecutive months now, beginning in March, and game publishers have been asking console makers to lower prices.

The Wii has miraculously been able to keep its original price since it debuted in late-2006. Almost three years later, the competition is getting too tough. Wii sales haven't necessarily fallen, but Microsoft and Sony are building momentum, according to recent sales figures.

Don't forget, for a limited time, you can get a free Wii here.

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