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Financial News Network
September 27, 2011 AT 8:21 AM
Research in Motion's (NASDAQ:RIMM) retail partners have began cutting prices on the Blackberry PlayBook tablet in an effort to boost poor sales.RIM's co-CEO Jim Balsillie confirmed on the company's second quarter earnings that the price cuts were imminent after the company stated that 200,000 units shipped into channels during the tablet's first full quarter of availability.Best Buy is advertising the new prices as a limited-time sale that ends October 6th. The 16GB, 32GB and 64GB PlayBooks are available for $399.99, $499.99, and $599.99 respectively, and in-store purchases also qualify to receive a complimentary $100 Best Buy gift card, which means customers, won't have to wait for a rebate card to be delivered in the mail.Research In Motion (NASDAQ:RIMM) has a potential upside of 39.6% based on a current price of $21.21 and an average consensus analyst price target of $29.61.