According to Nintendo: "Wii sounds like 'we', which emphasizes that the console is for everyone. Wii can easily be remembered by people around the world, no matter what language they speak. No confusion. No need to abbreviate. Just Wii."
In addition, the two ii's are supposed to represent people/players standing side by side or the remote and nanchuk. Originally a Wii was called "Revolution."
There are a few reasons floating about but the most well know is;
"Wii sounds like 'we', which emphasizes that the console is for everyone. Wii can easily be remembered by people around the world, no matter what language they speak. No confusion. No need to abbreviate. Just Wii." - Nintendo
They also say that the two i 's next to each other sybolise two people playing together.
It was going to be called the `Revolution` - but they changed their minds.
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admiring = meaning Latin =origin
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Gyrithe