Nintendo is expected to cut the price of its GameCube yet again this year.

The move may come despite what has so far been a tough year for the game console giant, whose financial results are due out on Thursday.

Facing stiff competition in the games console arena from Sony's PlayStation2 and Microsoft's Xbox, Nintendo recently cut the US price of its GameCube console by a third to $149, leaving both its competitors still standing at $199.

But despite the fact that the price cut will have an effect on the company's profits, analysts predict that a further price cut could come this business year as competition heats up between the three major players.

"I expect Nintendo to slash the GameCube price again at the end of this year," one Japanese analyst told Reuters.

Nintendo also announced a new board last week after president Hiroshi Yamauchi retired at the age of 74 after over 50 years in charge.