Report: Iwata On Wii U's Price: "This Is Not Going To Be Cheap" - News - www.GameInformer.com

CVG reports that Iwata � who has said he expects the Wii U to be priced at more than 20,000 yen in Japan ($250) � admitted of the console's price: "This is not going to be cheap."
Of course, when you've got the controller that the Wii U has, this isn't a surprise, especially considering that the 20GB PS3 debuted at $499 and the Xbox 360 (w/HDD) originally cost $399. The Wii itself cost $250 at launch. But Nintendo may find itself in a difficult place with the Wii U after becoming known for its lower-cost platforms through the years. Assuming there are no further price cuts for the competition's systems before the Wii U comes out in 2012, Nintendo would be facing the Xbox 360 that starts at $199 (4GB version) and a PS3 that starts at $299 (160GB).