The company will also introduce a new 'Nintendo Selects' collection of Wii titles for $19.99, which includes: The Legend of Zelda: Twilight Princess, Animal Crossing: City Folk, Mario Super Sluggers and Wii Sports.
"From the day it launched, Wii has let players of all ages and experience levels have fun with one another," said Nintendo of America President Reggie Fils-Aime. "The new suggested retail pricing for both the hardware and select games will help create more of these magical moments for even greater numbers of people."
Several retailers previously cut the price of the console to $169.99 last month.