Doh! AT&T Drops Price Of Facebook Phone To 99 Cents

Not good for Facebook:

AT&T Inc has cut the price of the HTC First phone, which is preloaded with Facebook Inc applications, to 99 cents from $99.99 less than a month after the phone’s launch.

AT&T, the No. 2 U.S. mobile service provider, said the price cut took effect on Wednesday. The company is the exclusive U.S. wireless carrier for the phone, made by Taiwan’s HTC Corp and launched on April 12.

An AT&T spokeswoman said price-cutting promotions are not unusual. But operators typically wait longer than a few weeks after a launch before discounting phones.

The only reason for that kind of drop, that fast, is because the phone simply is not selling.