NEW YORK ( TheStreet) -- How low will prices for Amazon's ( AMZN) Kindle go? According to readers of TheStreet, the price for the device might just drop below $100. At the end of July, Amazon once again cut the price on its entry-level Kindle, offering a basic Wi-Fi-only model for just $139, making it the cheapest e-reader among major brands. Less than a week after Amazon began taking pre-orders for the devices, which will begin shipping Aug. 27, they sold out. But 48.7% of voters said the price will surely drop further, and will bottom out at $99. Another 31.8% think it could go even lower. Aside from this basic model, Amazon also reduced the price on its Kindle 2 to $189, and offers the Kindle DX for $379 after originally being priced for $489. It's no surprise that investors are betting Amazon will continue to cut prices, as it faces growing competition from a slew of fresh handheld devices, as well as Apple's ( AAPL) iPad and a pending tablet from Google ( GOOG). Other lesser-known brands are also rolling out e-readers for under $100, which will no doubt put pressure on the Kindle. Copia, a subsidiary of DMC Worldwide, plans to introduce a five-inch color e-reader for just $99 this fall. "The iPad disrupted pricing strategy for everyone in the e-reader market, and after the price wars with Barnes & Noble and Amazon, everyone's trying to differentiate themselves from a price-point perspective," Tony Antolino, senior vice president of DMC Worldwide, said in a statement. "We decided to do a revision of our hardware positioning."
This price war first ignited when Barnes & Noble reduced its Nook to $199 from $259. Only hours later, Amazon made a similar move, lowering its Kindle 2 to $189, a $70 discount. When the original Kindle launched in 2007, it was priced at $399, and by last year dropped 35% to $259. Without question, the price cuts should spur sales of the Kindle; margins, of course, are another story. Last month, for example, Amazon announced that Kindle sales had tripled since it slashed the price to $189. The company also said it's seen e-books outpace that of hardcovers. -- Reported by Jeanine Poggi in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.