Nintendo Slashes Wii Price $50

Since its introduction in November 2006, the Nintendo Wii has been priced at $250. The 20 percent price drop means the bare-bones system is now available for $199.99. The new price will take effect Sunday, Sept. 27, according to a Nintendo statement released this morning.

The uberpopular Wii has mass appeal because it is geared toward all ages. Its interactive remote makes it uniquely able to actively engage gamers more than other systems do. The Wii Fit for example, is an exercise "game." Nintendo hopes the drop in price will attract more consumers who may not currently be gamers.

"Wii has reached more video game players than any game system before because it attracts everyone -- both men and women, and people of all ages," said Cammie Dunaway, Nintendo of America's executive vice president of sales and marketing, in a statement.

"Our research shows there are 50 million Americans thinking about becoming gamers, and this more affordable price point and our vast array of new software mean many of them can now make the leap and find experiences that appeal to them, whatever their tastes or level of gaming experience," Dunaway said.

Reports note that sales of the Sony PlayStation 3 video game console jumped 300 percent in the weeks after last month's $100 price cut, so the Nintendo Wii -- which is now at the same price as the Microsoft Xbox Elite -- is likely to see sales rev up. Watch for scant supply at holiday shopping time.