RIM (RIMM) Slashes PlayBook Prices on Kindle Fire Pressure
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According to CNET Thursday, RIM's (Nasdaq: RIMM) PlayBook tablet price has been slashed at Best Buy (NYSE: BBY) by about 40 percent. The 16-gigabyte version, which normally lists for $499.99 each, has been cut to a price of $299.99.
The move by RIM underscores the fear placed in the tablet market with the introduction of the Amazon (Nasdaq: AMZN) Kindle Fire media tablet Wednesday. Retailing for $199.00 with free shipping, Amazon has labeled the device more of a "service" than pure "tablet."
The 32-GB PlayBook drops 33 percent from $599.99 to $399.99, and the 64-GB version 29 percent from $699.99 to $499.99.
About a month ago, Hewlett-Packard (NYSE: HPQ) made a similar move as it looked to exit the tablet business, but with a more dramatic cut. HP slashed the TouchPad from $299 to just $99, causing such increased demand for the device that HP was actually considering re-releasing more of the tablets at the same price.
RIM is trading slightly higher Thursday morning.
The move by RIM underscores the fear placed in the tablet market with the introduction of the Amazon (Nasdaq: AMZN) Kindle Fire media tablet Wednesday. Retailing for $199.00 with free shipping, Amazon has labeled the device more of a "service" than pure "tablet."
The 32-GB PlayBook drops 33 percent from $599.99 to $399.99, and the 64-GB version 29 percent from $699.99 to $499.99.
About a month ago, Hewlett-Packard (NYSE: HPQ) made a similar move as it looked to exit the tablet business, but with a more dramatic cut. HP slashed the TouchPad from $299 to just $99, causing such increased demand for the device that HP was actually considering re-releasing more of the tablets at the same price.
RIM is trading slightly higher Thursday morning.
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