Via TechCrunch, Satoru Iwata’s apology to 3DS owners:

This unprecedented timing for a price cut is because the situation has changed greatly since we originally launched the 3DS.

We copied those smartphone guys in laughing off the threat from Apple. Man, I wish we’d paid attention to what actually happened to those smartphone guys.

We decided it was necessary to take this drastic step in order to ensure that large numbers of users will continue to enjoy the 3DS in the future.

The 3DS? Yeah, that’s screwed. Maybe if we do a fire-sale more people will buy one.

If the software creators and those on the retail side are not confident that the Nintendo 3DS is a worthy successor to the DS and will achieve a similarly broad (user) base, it will be impossible for the 3DS to gain popularity, acquire a wide range of software, and eventually create the product cycle necessary for everyone to be satisfied with the system.

It’s really really screwed.

We feel a strong responsibility to develop the 3DS as a platform

Although not enough of a responsibility to come up with any new ideas for games.

— to ensure that, in the end, everyone is satisfied; we will make every effort to do so.

Unless we have to make some new ideas for games.

Additionally, we know everyone is waiting for Super Mario 3D Land and Mario Kart 7.

Like we said, we’re not big on new ideas for games.

They are scheduled for release in November and December, respectively

Nor are we that big on rushing recycling our existing properties.

Man, I hope we don’t end up like those Sega guys…