Nintendo President Takes Salary Slash for Nintendo 3DS Price Cut

Satoru Iwata is taking the blame for the system's failings…

Joey Davidsonby Joey Davidson

Satoru Iwata and the 3DS

Nintendo announced Thursday of this week that they will be dropping the price of the Nintendo 3DS, worldwide, by about a third of its launch cost. That will happen on August 12th, and for the U.S. that means that the system will go from costing $249.99 to $169.99.

Nintendo is offering a nice bonus of 20 free downloadable games for those among us that have already bought the handheld. Read all about that here.

Satoru Iwata, Nintendo's President, has revealed that he is taking a 50% loss in salary to make up for the price cut being applied to the system. Below Iwata, the larger company directors will see a 30% salary cut, while execs will see a 20% cut. All of this is being done so that the base of Nintendo's workforce doesn't feel the profit loss.

With the price cut for the system, Nintendo seems to be poising themselves to achieve at least some level of success with the 3DS. This cut is coming months after the launch of the hardware, and the company is clearly doing it quickly to make up for lost ground in the area of installation base.

They have to do this. Sony announced the PS Vita at $250. If Nintendo kept their already underperforming handheld at $250 when the PS Vita dropped, the company would have been, frankly, screwed.

As it stands now, Nintendo heads are taking the hit in salary in the hopes that they'll be able to see the 3DS enjoy a long run in the future.

[via Kotaku]