updated 07:49 pm EDT, Fri July 12, 2013
Price reduction permanent effort to boost sales of BB10 device
Retailer Best Buy has slashed the poor-selling BlackBerry Z10 phone on either AT&T or Verizon to $50 with the purchase of a service contract. The price cut appears to be permanent for the smartphone that originally went on sale for $200 in March.
After reports of light Z10 sales surfaced, BlackBerry challenged the reports, calling them in error and an attempt at stock manipulation. When the first BlackBerry quarterly financial results that includedhe first BB10 device releases were made public, the fears of investors were confirmed -- in the quarter, BlackBerry sold only 6.8 million phones, with only 2.7 million of the total made up of BB10 devices.
CEO Thorsten Heins believed that the launch of the Z10 wasn't a "disaster," a viewpoint expressed by a shareholder following the quarterly earnings report. Rather, the CEO blamed US carriers and their "opportunistic thinking" in promoting only popular devices.