Nintendo president, Saturo Iwata, attributes the slack sales of the Wii U with the lack of games rather than the price of the console.

"I understand that the real issue is that lack of software, and the only solution is to provide the mass-market with a number of quality software titles," he told CVG.

"If the price is actually an issue [with the Wii U], then there is some contradiction between the current sales balance between the Basic and Premium versions of the Wii U. The basic version should have sold a lot, but the fact of the matter is that people are buying more of the premium version. So the issue is not there."

Last week a Nintendo representative confirmed that the Wii U console was being sold at a loss, making a price cut unlikely in the near term. This recent news shows that the Wii U is selling but consumers are skipping the basic addition all together, opting for the Premium Edition. With better games Nintendo would be able to push more basic versions out the door.

Last week Nintendo financial results revealed that in the past three months the console had only sold 160,000 units worldwide. This isn’t helped by a wave of publishers dropping the Wii U from its development cycle because of the great gap between the console’s power and its competition.

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[Via CVG]