While that sounds like a sign that the Torch hasn’t been selling very well, co-CEO Jim Balsillie says he is happy about the news.
He tells Bloomberg, “That’s a dream come true…New pricing, new promo, right into the holiday season — what can I say? I couldn’t be happier.”
He also says it’s “hugely good” for sales. Makes sense. People tend to buy more of what costs less.
But it’s also confirmation that people aren’t buying enough of the product when it’s priced the same as other top-tier smartphones, such as the high-end iPhones and Android phones.