$199 Wii by Christmas according to analyst

After poor performance over recent months courtesy of the worldwide recession the feeling across the board is that console manufacturers are going to have to take a long hard look at their price points. In-particular the reliably stoic Nintendo will too have to join the party and lower the cost of the Wii if its going to remain competitive over the coming months and impending holiday season, according to Wedbush Morgan’s Michael Patcher. “In order to hit its full-year Wii shipment forecast, we expect Nintendo to cut the price of the Wii before holiday, likely to $199.99,” Patcher told Gamespot.

Sony and Microsoft too should too expect to cut their prices. He continued, “In the second half of the year, we expect Sony to cut price for the PS3. If the cut is deep enough, we expect Microsoft to respond. If we’re right, hardware demand should get stronger in the back half of the year.”