A buoyant Nintendo has announced there will be no price cut on its popular Wii gaming console. The company also announced it will begin selling Wii in China next year, thus opening-up a hitherto untapped market/channel.

Nintendo's Wii is priced at nearly $250 in North America, 249 Euros in Europe, and 25,000 Yen in Japan. All prices are less than those of Sony's PS3 or Microsoft's Xbox 360 in these regions.

Nintendo claims its profits have largely ridden on the success of its Wii and DS gaming consoles, with Sony and Microsoft desperately trying to play catch-up.

Nintendo President, Satoru Iwata, said that when the company is struggling to meet booming demand for its Wii console, there is no question of a price cut. And that as they have barely enough Wii's to meet existing demand, the Wii can be brought to China only next year.

Iwata however said the company needs to work with Chinese game developers to create games suitable for the Chinese market.

Nintendo also introduced a gift-giving feature that will allow gamers select a game and send as gift to another user online.