Investing
RIM PlayBook Price Drops to $299 (RIMM, BBY, HP, AAPL)
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In an apparent effort to blow out its existing inventory, Research in Motion Ltd. (NASDAQ: RIMM) has dropped the price of all its PlayBook tablets to $299 — regardless of memory size. The price drop apparently only applies at the RIM web site, because the 16MB version is still priced at $499 at on the web site of Best Buy Co. Inc. (NYSE: BBY). The PlayBook normally retails for $499 to $699, depending on memory configuration.
The deal calls to mind the fire-sale pricing of the Touchbook tablet from Hewlett-Packard Co. (NYSE: HPQ) which sold for just $99 (originally $499) when HP was trying to push its inventory out the door. Neither RIM nor HP has mounted a serious to challenge to the iPad from Apple Inc. (NASDAQ: AAPL).
RIM also may be considering a change at the top of the executive ladder. The PlayBook also made our list of the 13 worst product flops of 2011.
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