Nintendo has finally decided to join the price war that was initiated by Microsoft and Sony's recent price cuts in their respective consoles.

On August 18 Sony launched its PlayStation 3 Slim with a price tag of $299, while Microsoft unveiled recently its Xbox 360 Elite for just $299.

So it is but natural for Nintendo to follow suit so that it could face its competitors.

Today Kotaku showed a photo of a Toys R Us circular indicating clearly a drop of $50 in the price of Nintendo's Wii console, dragging it down to $199.99. The new price could go into effect on September 27.

It should be noted here that earlier in August Nintendo officials were denying any price fall in its console prices.