BlackBerry, saddled with a huge inventory of recently-launched touch screen phones, has slashed the price of its Z10 smartphone from Rs. 43,490 to Rs. 29,990 in India. The company has said that it is a limited-period festive offer.

“We continue to leverage festive season with relevant product and services promotions. BlackBerry 10 platform offers a new and unique mobile communication experience and, at Rs.29,990, the BlackBerry Z10 smartphone is uniquely positioned to change the way in which our customers view mobile technology,” said Sunil Lalvani, Managing Director of BlackBerry in India.

Last week, Blackberry said it would write down $960 million in inventory of touch screen phones, which remained unsold. The company also announced plans to lay off 4500 employees from its global operations to stay afloat. Meanwhile, the company is in the process of being acquired by Fairfax Financial Holding in a $4.7 billion deal.