Is it too soon for a price cut, or too late?

UK games trade publication MCV has spoken to a wide range of retailers and the general feeling seems to be that the system needs a price cut — as well as new games and better marketing — to turn its fortunes around.

January marked the console's second month on sale in the UK, and it accounted less than two per cent of game sales.

MCV interviewed some of the biggest retailers in the UK, including supermarket giant Tesco. Here's what Tesco games buying manager Jonathan Hayes had to say:

Wii U has not caught the public’s imagination yet. We need a killer app to drive sales, and a big marketing push to clearly communicate what Wii U is all about.

Those in charge of smaller video game stores seem to agree, but also call for a price cut to stimulate sales.

Nick Whitehead, founder of Xbite, said:

Both the machine and software prices are too high to compete. The price point needs looking at but this alone will not fix the issue.

Barkman Computers’ Nick Elliot concurs:

Lower prices should be led by Nintendo and publishers – not left to retail to discount down to the optimum price point.

It's clear that the Wii U is in a rather tricky situation not just in the UK, but all over the world. In North America for example, the system has sold around 40 per cent less than the previous Wii did at this point in its lifespan.

Clearly new games are required to ensure consoles continue to sell, and if Nintendo can communicate to potential buyers just how great the system is, that will also help. But is a price cut at this stage too extreme?

As ever, leave a comment to let us know what you think about the situation, and how Nintendo can turn it around.