Michael Pachter, an analyst at Wedbush Securities, said the due to weakening sales, the price of the Nintendo Wii may drop in the near future.

Sales of the Nintendo Wii have slowed down, which may cause the company to make moves to revive interest. The game consoles problems are mostly due to the saturation of the potential market and the price of the Xbox 360 and PlayStation 3. However, Pachter says that the price cut is unlikely to come during the holiday season.

"I don't think that Nintendo has the resolve to cut the price of the Wii heading into the holidays. Recent sales levels have been weak by Nintendo standards, with monthly Wii unit sales averaging just over 300,000 per month in the U.S. However, that's still on par with Xbox 360 sales, and until Microsoft or Sony cuts price further, the Wii should be able to hold its own," he said.

Pachter predicts that the current price of the Wii will be in place, but will eventually drop to $149.99.

"With all that said, I think we'll see Nintendo maintain price until early next year, and I think we'll see Walmart implement a similar promotion to last year's $50 gift card with the purchase of a Wii. That suggests that sales will pick up dramatically, as the effective price for a console, two pieces of software and Wii Motion Plus will be $149.99."

The game console is facing stiff competition during the holidays, as the Xbox 360 and PlayStation 3 unveil new technologies such as the Kinect controller and the Playstation Move.