Apple today cut the regular price of their HomePod smart speaker by $50. The speaker is now priced at $299 in the United States, down from $349.
The price reduction apparently applies to every region, as the UK price has fallen from £319 to £279.
The price reduction should help the HomePod grab a bigger slice of the pie in the U.S. smart speaker market. Apple’s smart speaker held a mere 6% of the U.S. installed base of smart speakers, which reached 66 million units as of the fourth quarter of 2018.
By comparison, the Amazon Echo and Google Home reportedly accounted for 70% and 24% of the U.S. installed base, respectively.
The lower price may also help Apple grab a larger piece of the streaming music market, as ownership of the Home Pod may encourage listeners to plunk down $9.99 per month for an Apple Music subscription.
The Apple HomePod hit shelves just a little over one year ago.