Nintendo confirmed long-standing rumors today, announcing that its Wii hardware will receive a price drop from $199.99 to $149.99.  Set to go into effect on May 15, the reduction will coincide with a new Wii hardware bundle, which includes Mario Kart Wii and a Wii Wheel accessory of matching color.

It’ll be interesting to see how many holdouts jump on this when NPD figures come in for May.

What’s more, is that Nintendo is launching its own ‘Select’ value line on May 15, similar to Sony’s Greatest Hits program. Retailing at $19.99 each, these are titles are stand out among the Wii’s expansive library. The initial batch of titles will include The Legend of Zelda: Twilight Princess, Animal Crossing: City Folk, and Mario Super Sluggers. There’s no word yet on whether third-party offerings will be added into the mix eventually.

Nintendo is prepping to unveil its Wii successor at E3 in Los Angeles next month.

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