Redmond, Wash. - Nintendo said Wednesday it is cutting the price of its Wii game console by $50 to $150, in advance of the launch of its successor next year.

The price will take effect May 15, and will include the Wii system in either black or white and a copy of the "Mario Kart Wii" game and a Wii Wheel accessory.

Nintendo announced several weeks ago that it plans to launch a next-generation gaming console in 2012.

It plans to give demonstrations of the new system at the Electronic Entertainment Expo, June 7-9, in Los Angeles.

The company also said that its "Nintendo Selects" collection of games will carry a $20 suggested retail price, and will include: "The Legend of Zelda: Twilight Princess," "Animal Crossing: City Folk," "Mario Super Sluggers" and "Wii Sports."

Nintendo said it has sold more than 86 million Wii consoles worldwide since the system launched, including 35 million in the U.S., surpassing both the Xbox 360 and PlayStation3.