Reggie says Wii price drop was a "very important move" for Nintendo

NOA president Reggie Fils-Aime believes the $50 reduction announced for Wii this morning will bring new customers on board as well as give the firm's hardware and software offerings a well-needed shot in the arm.

Speaking with MSNBC, Fils-Aime said the price drop was a "very important move" on Nintendo's part, and only the second price reduction for Wii since launch in November 2006.

According to Fils-Aime, the time a last home console had a price point of $149 or below, it sold "50 percent of its volume at a price point." That home console, was PS2.

Wii has sold around 86 million Wii units globally and 35 million in the US since launch, and because of this, Fils-Aime was questioned as to why Nintendo thinks a Wii price drop will have consumers banging down the door when Project Cafe is in the works.

"When we launch our new home system sometime in 2012 we think the consumer buying in will look very different than the consumer who's going to be buying a Wii now," he said.

"What we've seen in this business it that there are certain consumers who love being first — they have to have the absolute latest hardware — and there are other consumers that are perfectly happy to wait until the game library is much more robust and they have a wider range of options."

Fils-Aime went on to say the price drop was "perfect timing" for the firm, as the summer months are coming.

"We think there is a wide range of consumers that are wanting to purchase a Wii and what they have been waiting for is this type of announcement," he said.

"There are a lot of households where kids will be off from school and the parents are either looking for celebratory presents as the children finish the school year or they're looking for a fun exercise to keep the kids busy and happy during the summer time frame."