Best Buy Cuts Tablet Prices in Wake of Amazon's Kindle Fire
NEW YORK (
) --
Best Buy
(BBY) - Get Best Buy Co., Inc. Report
is getting aggressive in its tablet pricing, following the launch of
Amazon's
(AMZN) - Get Amazon.com, Inc. 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.
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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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