Walmart Hit With Complaints From Retailers Over iPhone 5 Pricing
The iPhone 5 is the apple of discord (pun intended) between several retailers, including Best Buy, Toys “R” Us, and Walmart. The retailers have addressed their dissatisfaction to attorneys general in several states across the US; they complained about Walmart’s comparison ads which, according to the companies, contain inaccurate pricing, and, are misleading by claiming the lowest prices.
According to Best Buy, the company has lost roughly $65,000 in one day, when said Walmart promotion ran for the first time. According to the report, Walmart has allegedly sold the iPhone 5 for $150 on the first day of its promotion, but the advertised price was $127. Best Buy’s pricing policy requires the retailer to match Walmart’s advertised prices but, according to Best Buy, Walmart didn’t have sufficient iPhone 5 units in stock to meet demand at that particular price. Without giving out specific stock numbers, Walmart claimed that the iPhone 5 was 98% in stock at stores that carried the device.
Source: The Wall Street Journal