Nintendo slashes price of 3DS

Just four months after its April launch, Nintendo has announced worldwide cuts to the price of its handheld gaming console, the 3DS.

The New Zealand price will drop from $479 to just $343, a significant fall which suggests the units aren't selling as well as Nintendo might have hoped.

The product's Australian launch prompted record sales in the first four days, but things soon started to slow, and by the end of the month Nintendo's HQ was admitting sales were falling well short of expectations.

Consumers who purchased the 3DS at its launch price will be compensated with free downloads of 10 GameBoy and GameBoy Advance games, as well as 10 NES games, including Super Mario Bros and Legend of Zelda.

The price cuts will take effect from August 12.