Nintendo President Satoru Iwata talked more about the new console and how it came to be what it is today, he also mentioned some pricing information.

So the Wii U was actually at one point a portable... yeah that's right the controller was considered to be a new portable game system, shame it wasn't. It eventually became a controller that would have to connect to the console in order to function but it did happen to go through a few more ideas. That built in screen had been a separate piece that you would just set in front of you somewhere, surely serving the same function as this one but with less features I would assume.

It also seems that they had the idea so do something like this for quite some time now, at least since the first Wii. apparently the reason it took as long as it did was because the idea was to costly. The screen was going to be smaller because it would have been too expensive. Clearly money is Nintendo's deciding factor.

This time around the games can be in HD which Nintendo expects will improve the success of the console and games. This is true but it also means that developing the games will cost more, which in turn means that we will have to pay more for them. Satoru continued saying that he hopes that the prices can stay lower but he did admit that they wont be around $50 at least for the bigger titles.

So we have an idea on what we will be paying for the games, but we still don't know what the console will cost. In fact we haven't even heard when we can expect to hear about that at all yet. My bet is that we will find out at E3 next year, considering the console has some time to go through development yet. Nintendo did say that there are still some parts that are not set in stone for the Wii U yet, which definitely explains why they don't know what to charge yet.