Report - that was quick: BlackBerry prices slashed

Pair Of Scissors

Major wireless providers of BlackBerry's new smartphone have already begun selling the devices at steep discounts, only months after they first went on sale, according to the Wall Street Journal.

In a new sign of bad news for the beleaguered smartphone maker, the WSJ reported that the BlackBerry Z10 is now selling for $99 at AT&T and Verizon, with Amazon selling it at $49 - a deep cut from the phone's original price of $199.

The moves raises new questions about BlackBerry's efforts to snatch back lost market share from Apple iPhone, Samsung's Galaxy phones, and other devices powered by Google's Android operating system. (Read the full article. Subscription required.)

A company spokesperson defended the price cuts to the WSJ, telling the newspaper that "now is the right time to adjust the price. It's part of life cycle management to tier the pricing for current devices to make room for the next ones."

The new BlackBerry devices were seen as make-or-break for the company, yet have not helped it stanch lost market share of shore up its balance sheet. Last week, CEO Thorsten Heins said BlackBerry needed more time to make its new strategy work.

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