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Best Buy slashes BlackBerry Z10's price over sluggish sales

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BBRY $9.24 -$0.09

at close on FRIDAY

By Bloomberg News
Saturday, July 13, 2013, 12:01 a.m.
 

Best Buy Co. has cut the price of BlackBerry Ltd.'s Z10 smartphone to $49.99 with a service contract, two weeks after the Canadian smartphone maker reported lackluster sales of the flagship touch-screen model.

The Z10 is available at that price with a two-year contract from Verizon Wireless or AT&T Inc., the Richfield, Minn.-based retailer said on its website. The device originally went on sale nationally in March at $199.99, on par with Apple Inc.'s iPhone.

Sales of the Z10 last quarter were almost 1 million units short of analysts' estimates, contributing to a surprise loss for BlackBerry.

BlackBerry accounted for less than 3 percent of global smartphone sales last quarter, according to research firm IDC.

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