Nintendo to shave prices

Price of premium 64 system to drop $20

TOKYO — Nintendo Co. said Friday that it will cut the price of some of its videogame hardware in order to increase its share in the highly competitive videogame market.

The game-maker will cut the price of its Nintendo 64 from 16,800 yen ($119) to 14,000 yen ($99) and is opting for a 8,900 yen ($63) price for its color Gameboy that will hit the market in September. The color Gameboy price is lower than originally anticipated.

“We have a strong line of new software coming out this year including ‘Pocket Monster Stadium.’ The lower hardware prices and the new software titles should help boost our profits,” a Nintendo spokesman said.

PlayStation competition

In Japan, Nintendo has faced stiff competition from Sony’s PlayStation, which is the market leader in the country.

Last month, Sega Enterprises Ltd. said it would unveil a new 128 bit videogame console called Dreamcast, which will hit Japanese stores Nov. 20, then go overseas next year.

Nintendo is expected to introduce a new version of its 64 bit game player later this year. The new game console will have a disc drive and allow users to interface with their Gameboys in order to play the same game on the home and portable consoles.