The smartphone was first introduced for $99.99 on a two-year contract with AT&T (T) . The Amazon Fire Phone still comes with a year of Amazon Prime at the lower price.
The price cut for the smartphone comes after reports that the online retailer sold fewer than 35,000 units in the first 25 days, according to MarketWatch.
Earlier in the day Amazon announcing it will bring the Fire Phone to Germany and the U.K. on Sept. 30. The phone will be available on Deutsche Telekom (DTEGY) in Germany and Telefonica's (TEF) O2 network in the U.K.
TheStreet Ratings team rates AMAZON.COM INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate AMAZON.COM INC (AMZN) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and feeble growth in the company's earnings per share."