it comes down to value.
this doesnt mean having a system with 32GB of ram and the equivelent of a 32 core xeon and quad titan Xs in the box for 300 quid (though it wouldnt hurt :P).
nintendo under charged for the wii at launch. they could have charged as much as an xbox 360 for it and it would have sold just as well (as could be seen by the crazy prices people were paying from resellers). the wii certinaly didnt have 250 quids worth of hardware in it. on the flip side the PS3 had around 800 quids worth of hardware in it and was sold for 600.....and people took no notice.
the wiiu does actually have hardware in it with a value fairly close to its asking price. nintendo had to sell it at a loss at launch (the only manufacturer to do so this gen i think). its streaming tech to the controller is the benchmark for streaming gaming content. but no one sees value in it so they are not going to pay. nintendo have done a very poor job arguing the case.
its the same with phones. there isnt a whole lot of expensive hardware in them but high end phones come with a big premium as people still see value in them.
the reason sony are doing so well this gen is that they have the clearest message and the best value proposition. it costs the same as, or less than, its main competitor, its easy to understand what it is, it gets the best version of multiplats most of the time (PC excluded) and it doesnt have any glaring defficencies. simples.
nintendo can charge what they like for their next console but they MUST justify the cost. it could be performance, it could be a brilliant new idea that has been expensive to implement but adds greatly to gaming or whatever but they have to justify it and it has to be clear and simple to see why this new thing is worth the cost. e.g. if nintendo are going to put 1000 quids worth of gaming grunt into their console then they have to have a game to show off just what this extra grunt can do. i.e. (assuming they do go with the above spec) they release with a big game with visuals that make star citizen look old and crap....at 4K 60FPS.
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