Satoru Iwata Takes a 50% Pay Cut, Taking the Blame for Nintendo 3DS Sales

I think this is really the first time we've actually seen Nintendo go down the the wrong side of the road, especially after hearing that Nintendo 3DS, their current "big" handheld, has dropped it's price tag. Not to mention that it was so soon; it's been out for, what will be, 5 months.

During a meeting earlier today, Satoru Iwata of Nintendo told investors why the price cut was so sudden. Iwata acknowledged that it will help retailers at the end of the fiscal year and that it encourages developers to continue developing for the handheld.

Although, that's not the end of it. Iwata also announced that many of Nintendo's higher-ups, including himself, will be getting paycuts. With him being the most notable one, getting 50% cut in his pay, he does state that "other representative directors are taking a 30 percent cut, and other execs are taking a 20 percent cut." Before this, Iwata was getting paid to what was the equivalent of $2 million U.S. Dollars.