Best Buy Sells Out of RIM (RIMM) PlayBooks, Here's Why...
Tweet
Share
E-mail
Get Alerts AMZN Hot Sheet
Join SI Premium – FREE
Looks like Amazon.com (Nasdaq: AMZN) isn't the only one selling more tablets than it can produce.
Also getting in the game over the weekend was Research In Motion (Nasdaq: RIMM), and it's entry into the tablet market: the PlayBook.
According to CNET, Best Buy (NYSE: BBY) reports it sold out of the PlayBook over the week...but there is one catch. Best Buy, and other retailers, cut the price of RIM's 16- and 32-GB PlayBooks by about $300 each to $199.99 and $299.99, respectively.
Best Buy also said it plans to get "more units" in the "near future," though specific numbers or timing were not given.
It almost seems as if no matter where the tablet PC is made, any price ranging from $0 to $250 or so will cause consumers to rush in and buy.
Rumors had been swirling that retailers might stop carrying RIM's PlayBook due to lack of demand. Tuesday's news from Best Buy is at least one step in the right direction to quell those rumors.
RIM previously acknowledged the lagging sales, and during its latest conference call, it said steps would be taken to offer additional incentives and discounts to move product.
Shares of RIM are strong early Tuesday, up more than 3 percent following a Bernstein upgrade.
Also getting in the game over the weekend was Research In Motion (Nasdaq: RIMM), and it's entry into the tablet market: the PlayBook.
According to CNET, Best Buy (NYSE: BBY) reports it sold out of the PlayBook over the week...but there is one catch. Best Buy, and other retailers, cut the price of RIM's 16- and 32-GB PlayBooks by about $300 each to $199.99 and $299.99, respectively.
Best Buy also said it plans to get "more units" in the "near future," though specific numbers or timing were not given.
It almost seems as if no matter where the tablet PC is made, any price ranging from $0 to $250 or so will cause consumers to rush in and buy.
Rumors had been swirling that retailers might stop carrying RIM's PlayBook due to lack of demand. Tuesday's news from Best Buy is at least one step in the right direction to quell those rumors.
RIM previously acknowledged the lagging sales, and during its latest conference call, it said steps would be taken to offer additional incentives and discounts to move product.
Shares of RIM are strong early Tuesday, up more than 3 percent following a Bernstein upgrade.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Sempra names new CFO and SoCalGas CEO amid infrastructure deal
- Everforth upsizes revolving credit facility to $600 million
- DevvStream and Karbon-X mutually terminate carbon credit agreement
Create E-mail Alert Related Categories
Corporate News, Insiders' BlogRelated Entities
Kindle, PlayBookSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
