Apple Slashes HomePod Price

Apple Slashes HomePod Price
Poor sales and a desire to boost Apple Music subscriptions may be behind the HomePod price drop.

(CCM) — Apple has resorted to discounting its HomePod smart speaker in a bid to give the Echo and Google Home rival a sales boost, The Verge is reporting.

The HomePod was launched on Feb. 9, 2018, but has been unable to make an impact on the booming smart speaker market. This may be because the HomePod has a premium price, in common with most Apple products. This may explain Apple's decision to reduce the HomePod's price tag from $349 to $299, but even at this discounted price it is still more expensive than the Google Home and Amazon's Echo.

Apple's lack of success in the market may also be due to the fact that, as yet, it lacks a budget option to compete with Amazon's Echo Dot and Google's Home Mini.

Apple's price-cutting exercise is unusual for a product which is in the middle of its lifecycle, but another reason for the move may be related to the fact that Apple is increasingly emphasizing the services side of its business. Cutting the price of the HomePod may be a way to boost subscriptions to its Apple Music streaming service.

The HomePod's price has been cut outside the U.S. as well: in the U.K., for example, the smart speaker's price has dropped from £319 to £279.

Image: © Apple.