Nintendo has announced that the Wii will receive a price drop from $199.99 to $149.99, in effect on May 15, while a new Wii bundle for $199.99 will feature a colored Wii, Mario Kart Wii and a Wii Wheel accessory of matching color.

Nintendo is also launching its own version of the Xbox 360 and PlayStation 3 bestselling line with its “Select” value line retailing at $19.99 each. The first games to be released under the budget line includes The Legend of Zelda: Twilight Princess, Animal Crossing: City Folk, and Mario Super Sluggers.

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