He took a pay cut too, remember.

Nintendo president Satoru Iwata speaks to all the key players in Nintendo's company: investors, shareholders, developers and more all meet with the big boss to share concerns and discuss the industry's future. Iwata is a busy man then, but he still took the time to pen a letter to 3DS owners, thanking them for their purchase and apologising for the price drop.

As translated by GiantBomb, the letter doesn't detail much new but is still interesting to read the head of a big corporation addressing fans so directly.

To Those Customers Who Bought A Nintendo 3DS Before The Price Change

Greetings, everyone. This is Satoru Iwata from Nintendo.

Thank you very much for purchasing a Nintendo 3DS.

We have just announced a price drop for the Nintendo 3DS system effective on August 11.

In the past, there have been price drops for video game systems some time after their release in order to broaden the user base further. However, never before has Nintendo chosen to issue such a dramatic price drop less than 6 months after a system release.

We are all too keenly aware that those of you who supported us by purchasing the 3DS in the beginning may feel betrayed and criticize this decision.

This unprecedented timing for a price cut is because the situation has changed greatly since we originally launched the 3DS. We decided it was necessary to take this drastic step in order to ensure that large numbers of users will continue to enjoy the 3DS in the future.

If the software creators and those on the retail side are not confident that the Nintendo 3DS is a worthy successor to the DS and will achieve a similarly broad (user) base, it will be impossible for the 3DS to gain popularity, acquire a wide range of software, and eventually create the product cycle necessary for everyone to be satisfied with the system.

Those customers who purchased the 3DS at the very beginning are extremely important to us. We know that there is nothing we can do to completely make up for the feeling that you are being punished for buying the system early. Still, we would like to offer the following as a sign of our appreciation to you.

[3DS Ambassador scheme]

We feel a strong responsibility to develop the 3DS as a platform — to ensure that, in the end, everyone is satisfied; we will make every effort to do so.

Additionally, we know everyone is waiting for Super Mario 3D Land and Mario Kart 7. They are scheduled for release in November and December, respectively, so we ask for your patience until then.

Thank you again, and we look forward to your continued support.

What do you make of Iwata's letter?

[source giantbomb.com]