Nintendo has officially announced a price cut for the Wii in both North America and Japan for Sept. 27. The $249 price tag will see a $50 cut in North America while Japan will get a 5,000 yen drop to 20,000 yen for the Wii. Speculation and leaked advertisements suggested a Wii price cut later this month and now it’s official.

Nintendo is following Sony and Microsoft in dropping prices for their respective consoles in preparation for the holiday season. There’s no word yet on a price cut for the Wii in European territories, but we’ll have updates as soon as they’re announced.