Nintendo president Satoru Iwata says Deluxe model selling better than Basic version is proof that pricing is not holding the system back, but rather lack of software.

It's not the Wii U's pricing that is hurting the system's sales potential, but rather a lack of compelling software, according to Nintendo president Satoru Iwata.

"If the price is actually an issue [with Wii U], then there is some contradiction between the current sales balance between the basic and premium versions of the Wii U," Iwata told CVG.

"The basic version should have sold a lot, but the fact of the matter is that people are buying more of the premium version. So the issue is not there," he added.

The Wii U has sold 3.61 million units since launch late last year and only 160,000 systems during the April-June quarter. Nintendo plans to sell 9 million consoles by March 2014.

The console is currently available at $300 for an 8GB Basic model and $350 for a 32GB Deluxe version. Nintendo is selling every Wii U at a loss.

Iwata explained that the "real issue" that is holding the Wii U back is a lack of software. The "only solution," according to Iwata, is to provide gamers with "a number of quality titles."

Nintendo is planning to do just that. The company shipped Pikmin 3 earlier this month, and has a number of marquee first-party titles on the way this year, including The Legend of Zelda: Wind Waker HD (October), Donkey Kong Country: Tropical Freeze (November), and Super Mario 3D World (December).

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