Google (GOOG) has decreased its Moto X price by $150 in an attempt to compete with other high-end smartphones.
The Google Moto X price is being lowered from $550 to $399 on a permanent basis despite. The company hopes that more consumers will choose the Moto X over its main competitors in Apple (AAPL) and Samsung (SSNLF). The Apple iPhone 5S price is $650 without a contract whereas the Samsung Galaxy S4 costs $600 for the 16-gigabyte model.
The 16-gigabyte Moto X’s components cost $200 — the same amount that the Galaxy S4’s components cost. This may mean thinner profit margins for Google but the company hopes that the new Moto X price will make the 16-gigabyte phone the most popular smartphone in the U.S.
GOOG stock is down 0.75% in early trading Thursday.