Lenovo watched US$16 million float away on Tuesday morning after its new tablet — the 7-inch S5000 — was tagged with the wrong retail price on both the Lenovo and Jingdong Mall websites, reports the Beijing Business Today.
The tablet, which runs on a MediaTek quad-core processor — was originally priced at 1,888 yuan (US$300). For 10 hours, however, its 3G version was mistakenly tagged at 999 yuan (US$160) on the two websites.
Chen Xudong, president of Lenovo China, said Lenovo and Jingdong Mall will not cancel the 110,000 orders just because of a mislabeled price tag. Lenovo announced that afternoon that the purchased tablets would all be shipped at the priced listed upon purchase and apologized to customers affected by the mistake, according to the report, though the buyers will no doubt feel that no apology is necessary.
The Beijing newspaper estimated that Lenovo may loose nearly 100 million yuan (US$16 million)
