Nintendo has confirmed that the price of its Wii system will not exceed $250 when it's released later this year.

Industry analysts at Merrill Lynch predicted last week that Nintendo's Wii system could cost just $200, although in light of Nintendo's announcement that price could be a bit of an underestimation.

Nintendo also forecasts shipping 6 million systems to retailers world-wide and selling 17 million Wii games by 31 March 2007.

Cash-poor gamers are likely to greet the pricing announcement with some relief after the news that the 60GB PlayStation 3 will probably hit the shelves with a hefty

>> Nintendo - Official website of Nintendo