That's according to an article by Home Media Magazine.
The discount, albeit small, is expected to be the beginning of widespread price cuts on Blu-ray player and discs in the fourth quarter.
Blu-ray makers are expected to issue new models in late summer, which will encourage retailers to discount older models for the holiday season.
The Insignia Blu-ray player is a 'Profile 1.1 player' which also includes $100 in discount coupons on Blu-ray movies. (Profile 1.1 is the basic Blu-ray player, meaning it does not include new interactive features except for picture-in-picture.)
Best Buy spokesman Brian Lucas said the discounted Insignia player is intended to spark interest in Blu-ray among consumers.
Home Media notes that Wal-Mart is selling a Magnavox Profile 1.1 player for $298, the lowest price for a retail Blu-ray model.
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