Famicom's real reason for being red

[DidYouKnowGaming]

The original source mentioned the president, saying part of the reason for the colour scheme was that Hiroshi Yamauchi liked the red colour. Switching from steel to plastic also doesn't conflict with the claim that the colours they chose were the cheapest at the time. Choosing cheap colours would also line up well with Nintendo cutting cost in the design in other areas, like having permanently attached controllers. Also, the fact remains that Nintendo are a business, and red and white plastics were the cheapest at the time. Money is always paramount in business, and I get the impression Uemura is denying it because he doesn't want to be associated with a "cheap" console.

I'm interested to hear other peoples thoughts on this.