The Wii may be miles ahead of the competition in the total sales race, but for the first time in four years, Nintendo saw a drop in profits from the cash-hauling console. Acknowledging the situation, Satoru Iwata owns up to the decline, looking forward to turning things around.

After weeks of denying rumors and trying to keep up with the console pricing, Nintendo finally confirms the Wii price cut, though unfortunately the UK isn't getting one. Still, in the words of that counselor from The New Guy, "I'm sorry to tell you that denial is not just a river in Egypt." Different context, I know, but the deny-and-confirm-later-anyway routine is really catching on. Speaking of catching, you can catch up with all the things Nintendo right here.

It's time to compare numbers again. After the impressive giant leap that the PS3 console made the past couple of weeks, things are starting to simmer down as the DSi regains the top spot in Japan's Media Create hardware sales chart for the week of September 7 through the 13th.

Wedbush Morgan analyst Michael Pachter has some pretty dire tidings for Nintendo. According to the analyst, the Wii's sales will continue to decline unless Nintendo gives a price cut the go signal. More estimates from Pachter after the jump.

Handhelds are dominating the hardware sales charts in Japan right now, but the story over there is still the PS3 -- specifically the fact that it has dropped to dead last in the Media Create sales rankings. More after the jump.

Nintendo president Satoru Iwata may not like hardware price cuts, but analysts are expecting Nintendo to drop the Wii's price even lower before the holiday season. More after the jump.

Over their lifetimes, the PlayStation 3 and the Xbox 360 have both introduced price cuts to buoy sales. But the Wii? Naw, it doesn't need a price cut to sell. It just needs to exist. But shouldn't manufacturing costs have gone down by now? Why doesn't Nintendo introduce a price cut? Because they don't want you to feel cheated.

More after the link.

Ok, this is getting old. The Xbox 360 beat the PlayStation 3 in Japan. Again. Oh, and the Wii beat their numbers. Combined. Also the same old story. But just in case you guys wanted to know.

Jesse Divnich is forecasting that for this year's holiday season, the PS3 might be bowing down to the Xbox 360, while the NIntendo Wii need not be worried of anything at all. His forescasts seem to hinge on the fact that the Xbox 360 is getting a price cut - which, by the way, he previously predicted and proved to be right on the money. Maybe this time around, his predictions might hold water as well? Read more of his insights in the full article.

More supply and demand blues have been plaguing video game retailer GameStop, but at least there appear to be some good things coming. On one hand, Wii shortages will still persist in the coming month. On the other, next-gen consoles are actually expected to get a price drop some time this year. More details about  this in our full article.