The gaming Internet exploded with discussion last week after Nintendo made the surprising move of slashing $80 off the price of its 3DS portable gaming device less than six months after its initial release. Company president Satoru Iwata addressed concerns over the decision at an investor’s briefing that was held in Tokyo, Japan at the tail end of last week.
Iwata told the gathered investors that the decision to cut the 3DS price was based largely on the lessons learned from the company’s GameCube console during the last generation, Andriasang reports. The Nintendo GameCube was a strong contender back in the day, offering some of the most well-received releases of the time, but it still managed to finish in third place behind the total units for Microsoft and Sony on the Xbox and PlayStation 2, respectively, when all was said and done.
Iwata also pointed to Nintendo’s many heaping buckets of money that were earned as a result of the massive success of its Wii console and DS portable. Put simply, the company is healthy and can afford to take a few risks. While the price cut is in many ways unprecedented, it comes at a crucial moment. The 3DS flat-out cannot compete with the PlayStation Vita this fall carrying a $250 price tag. That’s how much the Sony handheld will sell for, and it offers a more HD gamer-friendly experience than the 3DS does across the board.