Recently Microsoft and Sony slashed prices of their gaming devices Xbox 360 and PlayStation 3 consoles, giving birth to speculations that their recent move will make their peers to follow suit.

Microsoft slashed the retail price of Xbox 360 by £30 to £199.99, while Sony hacked the retail price of its PlayStation 3 to £249.99.

Now Nintendo is expected to respond to the price cuts by its rivals. But Nintendo is still silent regarding its future plans. Nintendo's Wii is available with a price tag of £189.99.

Recently Sony has unveiled its new PS3 "Slim" that consumes less power and slashed its price to $299, down from $399.

However, Wii is still the king of the market as its 50 million units have been sold so far against 30 million units of Xbox and 20 million units of PS3. Nintendo has so far been saying that it has no plans to slash price of its gaming consoles.