Amazon exec says ‘we didn’t get the price right’ on the Fire Phone

Hindsight is 20-20, something Amazon now has about the launch of its first smartphone. Amazon debuted the $ 199 Fire Phone in June, though trimmed the price of the device to 99 cents (with a two-year contract) just two months after it went on sale, without explanation. Speaking to Fortune, Amazon’s senior vice president of devices David Limp now says the company simply whiffed on the pricing. “We didn’t get the price right,” Limp said. “I think people come to expect a great value, and we sort of mismatched expectations. We thought we had it right. But we’re also willing to say, ‘we missed.’ And so we corrected.”

“We thought we had it right.”

That correction — as Amazon calls it — also hit its bottom line, as the company revealed last…

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