Nintendo Co.’s U.S. division this week said the Wii U and the current Wii console will co-exist at retail.

Nintendo of America president Reggie Fils-Aime told Time Techland this week that the Wii U and Wii will attract different consumers.

This is the first holiday that the Wii is available at $149.99 or below, so it’s an expanded demographic we’re reaching,” Fils-Aime said. “These are consumers who have heard about Wii for the past couple years, but at $199 or $249 it was economically out of their reach.”

“We do believe that Wii and Wii U will coexist for some time. As we drive the install base of Wii, we’re really setting people up to take their gaming library and be able to transfer it over to Wii U.”

Nintendo will release Wii U, the successor the Wii hardware, in 2012.

The Wii U controller includes a 6.2-inch, 16:9 touch screen that allows users to transfer gameplay to the controller screen, or use the added screen to relay menu items.

The hardware will be fully backwards compatible with the Wii.

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