BlackBerry (BBRY) Cuts PRIV Price Amid Slowing Sales

BlackBerry (Nasdaq: BBRY) is cutting the price of its flagship Android smartphone, the PRIV.

Re/code noted that the PRIV will now sell for $649 off contract, down $50 from its prior price. News comes amid news of slowing hardware sales for the Waterloo, Ont.-based tech giant; last week, the company reported device sales of 600,000 units, which was below expectations.

BlackBerry CEO John Chen said recently that the company might abandon efforts in the hardware segment if it can't make money by the end of 2016.

Shares of BlackBerry are flat in early trading.

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