By: Fred Jankilevich
Lawyer – Consultant
October 31st – 2017
The iPhone X has generated market controversy as Steve Jobb’s multibillion dollar empire struggles with an unhappy deal from Best Buy Co. The deal allows the latter company to charge $100 extra for a product that is already perceived by the market as an above average market price. While Apple products were originally targeted for a client-base of above average purchasing-power, the release price for the new phone resulted in a sales back-lash from the vendor.
Prices for the present release with Best Buy Co. are $1,099 for the base model configuration and $1,249 for the extended storage configuration. As can be seen, a rough 10% difference in pricing when compared to Apple (Base Price $999 / Extended $1,149).
Best Buy’s Danielle Schumann during the last press release to the date of this article, has stated that her main motive for the company’s adjustment was the cost involved with traditional sales instalment billing price.
The Company has received heavy media and social media critic, whereby these sources reflect that the general public perceives the additional 10% price constitutes a harmful consumer practice.
As a result, Best Buy Stocks have seen a setback in stock prices this week and the last. The present price at the Closing Bell today was 56.0872 BBY US (-1.45%) of the Close on October 3rd (-0.06% / Median Price).
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