Nintendo To Cut Wii Price To $150 In May [REPORT]

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Nintendo plans to reduce the price of the Wii to $150 on May 15, according to reports citing sources familiar with the company's plans.

Nintendo has sold more than 35 million Wiis in the U.S. as of March 2011. Sales were on the decline in 2010, although it's no wonder given that the console was released in 2006.

A price cut might make sense for the company, which recently reported a large drop in operating profits on account of weaker Wii and DS sales, but nothing has been officially confirmed by Nintendo.

In the meantime, if you've been planning on buying the Wii, you might want to hold on to your cash just a little longer to see if the rumor is true.