Faced with horrendous earnings 
and ongoing weak demand, Nintendo has dramatically lowered the price of its 3DS handheld system just four months after the system hit store shelves.
Starting Aug. 12, the company will drop the price of the 3DS from $250 to $170 — a move it hopes will spark flagging consumer interest and lay the groundwork for a strong holiday season.
Just four months after the 
high profile launch of its 3DS handheld gaming system, Nintendo is acknowledging that it has a problem on its hands.
The video game giant announced plans Thursday to slash the price for the 3DS by one-third — from $250 to $170 — effective August 12. The move came as the company reported fiscal first quarter revenue that was more than 50 percent below the previous year and a $328 million dollar quarterly loss. It also cut its projected earnings by 82 percent.
Chris Morris: Journalist 