HP has slashed the price of the TouchPad so that the budget model is now cheaper that the budget iPad.
And it's a hefty price cut of $100.
The $100 price cut sees the 16GB Wi-Fi TouchPad go from $499 to $399, with the 32GB WiFi model now at $499. Compare this to the iPad, where the 16GB WiFi model is at the original price of $499.
According to HP senior vice president Stephen DiFranco the reason for the price cut is that HP was 'pleased with customer response' to a $100 instant-savings promotion that it had recently run.
My guess here is that HP is looking to boost sales rather than profit in order to make the platform more attractive to developers - more developers means more apps, which might lead to more interest from the buying public. Apps are what's missing on the TouchPad's webOS platform, and without buoyant sales, developers are likely to stay away, which is bad for the app ecosystem.
I still think that the iPad is the best tablet out there, but the TouchPad is now fast becoming a worthy rival. If you're not a fan of Apple, then you might want to take a look at it.
That said, a TouchPad price drop is unlikely to affect iPad sales that much ... boost in TouchPad sales is likely to come at the expense of Android sales.