Even if the price is higher than expected, Nintendo's Wii is still expected to be cheaper than consoles from Microsoft and Sony

With the Games Convention under way in Leipzig, Germany, many gamers are anxious to hear announcements about the Nintendo Wii game console. Ever since making what many consider to be an impressive appearance at the Electronic Entertainment Expo in Los Angeles last May, Nintendo has tried to keep gamers on the edge of their seats. The Nintendo Wii will be priced below €250 for the European market, according to a Nintendo senior executive. Bernd Fakesch, the head of Nintendo's German operations said: “The price has not been decided yet, but I expect it to be... less than 250 Euros.” The current exchange rate shows that 250 Euros converts to ~$320 USD.

The console will reportedly cost 25,000 yen ($215 USD) or less in Japan and $250 or less in the United States. Further unconfirmed reports claim that the console could cost as low as $170 in Japan and the US. Even if the Wii console will cost more than $300 after it is released, analysts are not sure what impact -- if any -- that will have on the console's sales. Wii is still going to be cheaper than both the Microsoft XBOX 360 and Sony PlayStation 3. The PlayStation 3 will cost as much as $599 after it is released on November 17, while the XBOX 360's premium version costs $399.

The launch date for the Nintendo Wii has not yet been confirmed – but it is most likely that the console will be released in time for the 2006 holiday shopping season.

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