Nintendo will actually be offering two models of the Wii U console, with the 8GB version selling at 26,250 yen (which converts to £210) and a larger 32GB model tipping the scales at 31,500 yen (£252). Exact UK pricing has not been announced.
In Europe it will be avaialble on November 30th, November 18th in the US, and December 8 in Japan.
Nintendo will be hoping to steal a march on Sony and Microsoft by releasing early as it's unlikely we'll see a successor to the Xbox 360 or PS3 until 2014.
No doubt the Japanese powerhouse is looking for a repeat of 2006, when the original Wii stormed the shops with it's motion-controlled shenanigans to become the world's biggest selling home console.
To date, 100 million Wii consoles have been sold , although sales have slowed recently.
Part of the reason could be the emergence of tablets and smartphones as gaming platforms since 2006. Many casual gamers now turn to cheap, downloadable apps on tablets like the new iPad that are taking an increasing portion of the $78 billion gaming market.
The Wii U will be available in black and white and with the GamePad controller that features a 6.2-inch touch screen and stylus alongside the traditional buttons with left and right analogue sticks.
Nintendo also hopes to launch with a strong line up after confirming that 23 Wii U titles are currently in development.
Check back with T3 as we'll update this story with more Wii U info as soon as we have it.