Nintendo President Iwata Said In An Interview:
This is my personal thinking, but when the model's price-tag drops over time, manufacturers are telling consumers it's better to wait, and I've always thought that was a mistake.I have to partially agree with him as I have traditionally (as well as a lot of other people who aren't myself) waited for a console's first price cut before running out and buying it. Nobody likes to buy a console and then just after a price drop is announced. But that reminded me of something. When the N64 was released in the UK in March 1997 it was only a few weeks before the price was dropped by £100 (The Only Reference I could Find) so Nintendo are uniquely positioned to talk about such things.
However the N64 unlike the Wii and DS, doesn't print money.