Nintendo Co. cut the price of its Wii U video-game console by $50 ahead of competition from new units being introduced by Microsoft Corp. and Sony Corp. 

The suggested price of the Wii U will drop to $299.99 on Sept. 20, Kyoto, Japan-based Nintendo said today in a statement. The company also said its entry-level handheld 2DS will be on sale in Oct. 12 at $129.99, available in red or blue.

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The Wii U, released in November last year, has missed sales targets and will go up against Microsoft’s Xbox One and Sony’s PlayStation 4 for the holidays. At $299.99, Nintendo’s machine is priced $100 below Sony’s PlayStation 4, which makes its debut in November, and $200 below Microsoft’s Xbox One, which hasn’t specified a release date.

Nintendo said in June it will release more of its own titles to boost demand for the Wii U. A limited edition Wii U bundle, featuring “The Legend of Zelda: The Wind Waker HD,” will also begin selling on Sept. 20, Nintendo said today.

New titles including “Super Mario 3D World” and “Donkey Kong Country: Tropical Freeze” will go on sale in the fourth quarter, the company said.