Iwata: Wii U "likely" to cost more than $250

Nintendo CEO Satoru Iwata has hinted that Wii U will cost more than $250 following its unveiling last night during the company's E3 press conference.

Speaking to Nikkei, as translated by Bloomberg, Iwata said that the console will "likely" cost more than ¥20,000, which is £150 or $250 when converted into real money.

Wii's launch price was £180 in the UK and $250 in the US in 2006.

In an interview with GTTV's Geoff Keighley, Nintendo of America president Reggie Fils-Aime would have "fantastic value," and that it'll also have a "competitive value" as well.

No launch details for Wii U - such as price or launch timeline other than just 2012 - were announced <a href="http://www.vg247.com/2011/06/07/e3-2010-live-at-nintendos-project-cafe-reveal-at-5-00pm-bst/>during the Nintendo press yesterday.