Wii U price is not the issue, says Nintendo CEO

Wii U is still being outsold by the largely sunset Wii. While the figures are far from ideal, Nintendo CEO Satoru Iwata insists that price is not the issue, pointing to sales of the Deluxe edition as proof.

"If the price is actually an issue [with Wii U], then there is some contradiction between the current sales balance between the Basic and Premium versions of the Wii U," Iwata said. "The basic version should have sold a lot, but the fact of the matter is that people are buying more of the premium version. So the issue is not there."

Wii U is currently available in two flavors: a $300 Basic set and $350 Deluxe set that includes a larger hard drive and Nintendo Land. The Deluxe version outsells the Basic version--so much so that certain retailers have reduced their Basic inventory.

Speaking to CVG, Iwata reiterated that Wii U's woes are based on software--a problem the company plans to address this holiday season. "I understand that the real issue is the lack of software, and the only solution is to provide the mass-market with a number of quality software titles."

Nintendo still sells its console at a loss, which may be why the company is so hesitant to announce a price drop for the console. And with games like Mario Kart 8 and Smash Bros on slate for next year, it's clear that Nintendo still has a few aces up its sleeves.