Nintendo 3DS Price Cut to $170

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Nintendo is drastically cutting the price of its latest 3DS handheld console from its $250 retail price to $170 as the company misses sales targets. The announcement coincides with Nintendo’s financial reports, citing losses this 2nd quarter of 2011.

Nintendo wants to boost sales of the 3DS, citing poor sales, particularly in the US market. In a media release timed to the company’s latest financial reports, Nintendo president Satoru Iwata said that this price reduction was unprecedented. While there had been price reductions in consoles and portable gaming systems before, “it has never happened in Nintendo’s history that a console would be reduced in price so drastically and after less than six months.”

Nintendo of America president Reggie Fils-Aime sees this as an opportunity to those who want to get their hands on the console, but have been waiting for better pricing.

For anyone who was on the fence about buying a Nintendo 3DS, this is a huge motivation to buy now. We are giving shoppers every incentive to pick up a Nintendo 3DS, from an amazing new price to a rapid-fire succession of great games.

The price cut takes effect on August 12th. Take not that the price cut seems to be implemented worldwide. In Japan, the 3DS price will be reduced from 25,00 Yen ($321) to 15,000 Yen ($193). Meanwhile, to gamers who have bought the system for the original price, Nintendo is offering 10 free downloads of NES classic games via the 3DS eShop, as well as 10 free downloads of Game Boy Advance games, which the company hopes will compensate for the price difference.