Confirming the news that had already been speculated, Nintendo announced it will drop the price of the Wii to $150. So between now and May 15, it would make sense for everyone to avoid buying a new Wii - May 15 is when the price drop will happen.
On that day, the new $150 model will include a copy of Mario Kart Wii as well as the official Wii Wheel accessory. It will be a brand new bundle, but it would make sense that existing bundles will drop to $150 as well.
"From the day it launched, Wii has let players of all ages and experience levels have fun with one another. The new suggested retail pricing for both the hardware and select games will help create more of these magical moments for even greater numbers of people," said Nintendo of America president Reggie Fils-Aime in a statement.
The price drop will come nearly a month before Nintendo plans to reveal the Wii's successor, known internally as Project Cafe. The new console will be shown off at next month's E3 conference, Nintendo has confirmed.
The Wii has been priced at $200 for years, and has outlasted price drops from both the Xbox 360 and PS3. Those competing consoles have a very complicated and extensive price history. The Wii, meanwhile, has only ever retailed for $250 or $200.
Despite the price consistency, Nintendo's console has begun falling in sales, largely because its technology is highly outdated.
The new Wii, meanwhile, is rumored to be technologically superior to the 360 and PS3.