Wii U still selling at a loss to Nintendo

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An impending price drop for the Wii U appears to be out of the question, as Nintendo is still losing money on each console sold.

Speaking with Games Industry, a Nintendo spokesperson confirmed that the company's current hardware is still being sold at a loss – something Nintendo president Satoru Iwata originally admitted last October.

Nintendo's recently released annual report pointed to Wii U hardware sales as a major culprit in the company's $387m operating loss.

Iwata promised investors the firm will "strive to regain 'Nintendo-like' profits" in its current fiscal year.

The Wii U debuted at retail last November with a white basic set for $250 and a black deluxe bundle for $300. Nintendo disputed reports in June that the basic set had been recalled, but the model has since been dropped by major retailers including Best Buy, GameStop, Target and Walmart.