Nintendo has officially announced that beginning Sunday, Sept. 27 the price of its popular Wii game system will be cut from $249 to $199. This follows much speculation and leaked fliers from various sources showing the un-official prices. The new price drops comes on the heals of Microsoft and Sony's reductions last month of their own game systems. Sony's best-selling PlayStation 3 now sells for $299 (down from $399), while Microsoft's high-end Xbox 360 Elite model sells for $299 (down from $399).
To keep a competitive edge in the price wars Microsoft's offering a $50 rebate to anyone who buys their premium Xbox Elite gaming system before October 5th.