News
Best Buy files complaints on Walmart iPhone 5 pricing
By Phil Dzikiy
News Editor, iLoungeGoogle+
Published: Friday, January 4, 2013
News Categories: iPhone
Walmart has drawn fire from rivals for misleading ads, with Best Buy specifically claiming that it lost $65,000 in profit in one day on the iPhone 5. According to a report, Walmart sold the iPhone 5 for $150 on the first day of its promotion, but advertised the device for $127; iLounge noted that the company had misleadingly offered and then didn’t honor an aggressive discount on the current-generation iPad, as well. Complaints against Walmart have reportedly been filed with state attorneys general as a result of the pricing practices.
Best Buy claims that Walmart didn’t have a sufficient number of iPhones available to meet its promised pricing, and Best Buy’s price-match guarantee required the chain to match Walmart’s advertised price. Walmart says that the iPhone 5 was 98 percent in stock at stores that carried the phone, but didn’t release exact figures on how many phones were in stock. [via The Wall Street Journal]
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Just browse through websites like complaintreviews.com and you’ll read hundreds of upset people that have taken to the interwebz with their complaints.
Best Buy had to price match, otherwise they risk their entire price match promise. If they lost that then what do they have left?
IMO they would have lost millions more if they HADN’T lost money on the iPhone sell.
Posted by Chrissy Jamie on January 9, 2013 at 4:15 AM (PST)