Blackberry Already Slashing Prices of New Phones up to 75%

Blackberry 185Research in Motion (BBRY) is reducing the price of one of its smartphones.

The Z10, which was launched four months ago, has seen slow sales. This has caused retailers to discount the price of the phone in what is likely an effort to boost sales.

AT&T (T) and Verizon Communications (VZ) have reduced the price of the Z10 buy half, dropping it from $199 to $99 with a two-year contract. Best Buy (BBY)and Amazon (AMZN) have cut prices even further, offering the phone for $49 with contract, reports The Wall Street Journal.

“It’s part of life cycle management to tier the pricing for current devices to make room for the next ones,” a BlackBerry spokesman, told WSJ. “This is just one element of our marketing strategy that will ensure we remain aggressive in a very competitive market landscape.”

Blackberry revealed during its annual meeting last week that the company experienced lower than expected sales last quarter.

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