Nintendo Says Wii Losing Momentum

Nintendo of Japan has admitted that the Wii has been going through its toughest time yet, but also indicated that there will be no price cuts.

"The Wii is in the most unhealthy condition since it hit the Japanese market," Nintendo Co. president Satoru Iwata said. "The current condition in the Japanese market is not the one we want."

"A price cut in a difficult economy cannot really excite the market and drive up sales. As of now I really don't think that a price cut is a good option for us," he told a news conference.

Recent figures showed that the Sony PlayStation 3 had outsold the Wii in Japan last week for the first time in 16 months. Sales of PS3 five weeks to March 29 from a year earlier to 146,948 consoles, while demand for the Wii plunged almost 63 percent to 99,335, publishing firm Enterbrain Inc said.

"The speed with which people get tired of any new entertainment is faster in Japan than in overseas markets," Iwata said.