NEW YORK (

TheStreet

) --

Best Buy

(BBY) - Get Report

is getting aggressive in its tablet pricing, following the launch of

Amazon's

(AMZN) - Get Report

Kindle Fire.

The electronics retailer slashed the price on the HTC Flyer to $299 from $499 and cut

Research In Motion's

(RIMM)

PlayBook by the same amount.

Amazon unveiled its tablet device earlier this week at a press conference in New York. The Kindle Fire will be $199 and allow users to surf the Web, download music, and stream movies and television shows.

Forrester Research estimated Amazon will sell 5 million of the devices in the fourth quarter. This will surely put the retail space on edge during the all-important holiday season, especially since the space has lacked must-have items in recent years.

In the case of Best Buy, the company has been losing customers to Amazon for some time. Best Buy is even being dubbed a showroom for Amazon, where shoppers go to try out the product in store, but then purchase the item for a cheaper price online.

-- Written by Jeanine Poggi

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