3DS's Price Cut by $80

Yesterday, Nintendo announced that they will cut the price on their new portable, the 3DS, to $169.99 in August. This move has been seen by many as hasty, but they're doing this to pick up lost momentum. "Having strong momentum is very important for game platform businesses. Once momentum is lost, great power is needed to change that trend." This price cut will also increase 3DS sales over the PlayStation Vita (the cheapest Vita model, originally priced competitively,  was $249.99.) Interestingly, the superiors at Nintendo are giving themselves pay cuts, with Iwata, the current president of Nintendo receiving a 50% cut to his salary, not including his company success bonuses. They are doing this "to show our sincere attitude and to fulfill our responsibility. We really must recover our financial performance and take Nintendo back into the position in the marketplace where it is well appreciated."