Nintendo Wii to come down in price by the end of this month

The price of a Nintendo Wii will drop from £179 to around £130 from 20 May.

Under EU regulations Nintendo is not allowed to announce a retail price, but with the console dropping from $199.99 to $150 in the USA, it is expected that the new UK price will be around £130.

For £130, the console will sell in two 'bundles'; The Mario Kart Wii Pack will include a white console, remote, a nunchuk, a Wii Wheel and a copy of Mario Kart. The Wii Sports Resort Pack will include a black console, remote, a nunchuk and a copy of Wii Sports and Wii Sports Resort.

Also announced is a new budget range of Wii titles, called Wii Select. Games will be priced at £20, with Wii Sports, WarioWare: Smooth Moves, Mario Strikers Charged Football and Animal Crossing: Let's Go To The City all available from May 20.

The price-drop comes after the Japanese videogames company announced a huge drop in profits for the last financial year. Nintendo said that net income had fallen 66 percent to 77.6 billion yen for the financial year ending March 2011.

Nintendo also recently confirmed that it was planning to release the successor to the Wii, codenamed Project Café, in 2012. The new console will be premiered at the Electronics Entertainment Expo (E3) in Los Angeles in early June.