Research in Motion Ltd. this week wrote off the value of the Blackberry Playbook tablet due to a price cut that discounted the device to under $200.
The company said Fri. it will incur a pre-tax charge of $485 million in the third quarter to record the decline in value of the PlayBook tablet.
This month, RIM discounted the entry-level PlayBook to $199.99 from $499.99 after slow sales.
It shipped 150,000 units to retailers in the quarter.
RIM released the Blackberry Playbook in Apr. in 16GB, 32GB, and 64GB SKUs.
Last month, the company began holding a ‘Buy 2 Get 1 Free‘ promotion for the tablet to business customers.
Retailers including Staples Inc. and Office Depot in Oct. began discounting the Blackberry Playbook by $100 to $200 in order to spur demand.