Nintendo has confirmed that it will be dropping the price of the Nintendo Wii in the US by $50 to $199.99.

The move, announced at the start of the Tokyo Games Show in Japan will come into effect on 27 September.

"Our research shows there are 50 million Americans thinking about becoming gamers, and this more affordable price point and our vast array of new software mean many of them can now make the leap and find experiences that appeal to them, whatever their tastes or level of gaming experience," said Cammie Dunaway, Nintendo of America's executive vice president of sales and marketing clearly hoping the new price point would woo would be gamers.

The price reduction comes after both Sony and Microsoft reduce the price of their consoles in recent weeks.

In related news, Sony has announced that it has shifted over 1m PS3 Slim consoles, which debuted at the beginning of September. It is priced at $299.99.

Nintendo has not confirmed as yet whether or not a price reduction is on the cards in other countries like the UK, however sources on the ground suggest that Japan and Europe will get a similar 20% price cut at the beginning of October.

The company also outlined launch dates for key titles:

- Dead Space Extraction (EA) - Sept. 29
- Wii Fit Plus (Nintendo) - Oct. 4
- Star Wars The Clone Wars: Republic Heroes (LucasArts) - Oct. 6
- Mario & Sonic at the Olympic Winter Games (SEGA) - Oct. 13
- Pro Evolution Soccer 2010 (Konami) - Nov. 3
- Call of Duty: Modern Warfare: Reflex (Activision) - Nov. 10
- New Super Mario Bros. Wii (Nintendo) - Nov. 15
- EA Sports Active More Workouts (EA) - Nov. 17
- Resident Evil: The Darkside Chronicles (Capcom) - Nov. 17
- LEGO Indiana Jones 2: The Adventure Continues (LucasArts) - Nov. 17
- James Cameron's Avatar: The Game (Ubisoft) - Nov. 24