E3 2002: Nintendo announces GameCube price drop

Nintendo of America announced this morning that it will reduce the price of the Nintendo GameCube from $199 to $149, effective Tuesday, May 21, 2002.

Today's news comes hot on the heels of Sony's and Microsoft's recent price reductions for the PlayStation 2 and Xbox from $299 to $199.

"We were the first manufacturer to reach the $199 price level and now we're leading the industry to $149," commented Peter MacDougall, executive vice president, sales and marketing, Nintendo of America.