GameCube lessons drove 3DS price cut - Iw

Nintendo boss Satoru Iwata has said that the company made the decision to cut the price of the Nintendo 3DS after reflecting on lessons it learned from the GameCube.Judging from last week's surprising 3DS price announcement, we're guessing the lesson is: if people aren't buying it, do something quickly.According to Iwata, the decision to cut price was agreed upon by the company's entire management. He went on to say that, given the runaway success of the Wii and DS, the company's financial position facilitated the price drop, Andriasang reports. Nintendo's shares nosedived following the publication of the firm's first quarter financial results last week, dropping 12.2 percent Friday having earlier hit a six-year low.Iwata later revealed he will be taking a 50 percent pay cut after saying he felt "heavily responsible" for disappointing early 3DS sales.