Due to the overwhelming demand for Nintendo's Wii this Christmas, Nintendo will not be following Microsoft and Sony's lead by offering any enticing Wii game bundles this Christmas, nor will they be tempting us with a price cut. They will however be introducing a new channel which will allow consumers to send Virtual console games to their friends.

Nintendo haven't gone into detail on the new channel, but it's believed that the service will allow you to buy a game for friend on your account, enter their friend's code and then they'll receive a prompt allowing them to download the title for free.

"We think this will be a breakthrough in encouraging customers to spread news of fun games via word of mouth," Iwata said. "We also hope to spur more users to connect their Wiis to the Internet."

Further details of the new channel are expected shortly.