Nintendo's President Satoru Iwata revealed the Nintendo Revolution console will retail for less than $300, making it cheaper than Microsoft's Xbox 360 and Sony's PlayStation 3.
There had been rumors previously that Nintendo was heading for "bargain" territory with their new console, but they were wild. Some speculated a cost as low as $99, although that seems ridiculous given how much they charge for things such as the DS ($129) and the Micro ($99). Given Satoru Iwata's comments (trans.), it now looks like a $250 price, or perhaps even a $199 price is likely.
The Revolution will be cheaper in part because Nintendo is stepping away from HD support. The company is betting on low initial HDTV adoption over the next few years; less than a quarter of American homes will have HDTV by the time the Revolution launches