News: Or in the words of the Nintendo President: "less than the Xbox 360".
Speaking to Yahoo! News Japan, Nintendo President Satoru Iwata confirmed that the Revolution would retail for less than 39,975 yen ($337.64) or in his words "less than the Xbox 360". This should come as a surprise to no one who has followed Nintendo's history as they love getting their consoles into the homes of gamers for a lower price than the competition.
For the record, all four of Nintendo's previous consoles have shipped with a retail price of $199.99.
A translated version of the original news article is available here.