NEW YORK (

TheStreet

) --

Nintendo

said Wednesday

it was cutting the price of its Wii game system by $50 to $149.99, starting May 15.

The newly priced Wii package will include a copy of the "Mario Kart" Wii video game and a Wii Wheel accessory, instead of the previously included "Wii Sports" and "Wii Sports Resort" games.

The Wii Remote Plus controller, Nunchuk controller and Wii Wheel included in the package will come in either black or white. The new black Wii Wheel will also be available separately at a suggested retail price of $9.99.

The gaming company is also introducing a new line of cheaper Wii games.

The "Nintendo Selects" collection of games will have suggested retail price of $19.99. The four games include "The Legend of Zelda: Twilight Princess," "Animal Crossing: City Folk," "Mario Super Sluggers" and "Wii Sports." This will be the first time that Wii Sports will be sold separately.

"From the day it launched, Wii has let players of all ages and experience levels have fun with one another," said Reggie Fils-Aime, president of Nintendo of America, in a statement on Wednesday. "The new suggested retail pricing for both the hardware and select games will help create more of these magical moments for even greater numbers of people."

In its most recent

quarterly report

, Nintendo said it plans to unveil a new gaming system at the Electronic Entertainment Expo in June. But the system isn't expected to go on sale until at least the second quarter of 2012, Fils-Aime said.

--Written by Theresa McCabe in Boston.

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