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.
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.