Best Buy asks HP to take back 240,000 unsold TouchPad tablets

PanARMENIAN.Net - Best Buy is unhappy with HP after having sold just 25,000 of TouchPad tablets and is unwilling to pay for the more than 240,000 unsold units.

According Apple Insider, multiple sources who have seen internal HP reports have told that big-box retailer Best Buy took delivery of 270,000 TouchPads and has only managed to sell less than 10 percent of its inventory.

Best Buy has refused to pay for the remaining tablets and has asked that HP take them back. But, HP has reportedly pleaded with the retailer to be patient.

Envisioneering Group analyst Rich Doherty said other retailers such as Wal-Mart, Microcenter and Fry's are seeing spotty sales of the TouchPad as well. He added that HP's recent $100 price cut has actually backfired by prompting customers to wait for further discounts.

HP released the TouchPad in July to middling reviews, which called it a "mediocre tablet." Just one month after the tablet's release, HP slashed the price of the device by $100. Days later, a company executive announced that the sale price would remain permanent.