Best Buy: Is This Move Dumb or Brilliant?

In a risky move that pits it directly against companies like Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN), electronics retailer Best Buy (NYSE:BBY) is planning to start selling its own in-house tablet at an aggressive price point. The Google (NASDAQ:GOOG) Android-based Insignia Flex will retail for between $239 and $259, Reuters said.

Amazon’s Kindle Fire HD and Google’s Nexus 7 start at $199, while Apple is expected to announce a smaller version of its ultra-successful iPad in the sub-$300 price range. The latest version of Apple’s 9.7-inch iPad starts at $499, a range similar to what Microsoft (NASDAQ:MSFT) announced for its Surface tablet on Tuesday.

Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.

According to Reuters, the Insignia Flex will start selling on November 11 and will be available only at Best Buy’s brick-and-mortar outlets and online store. It is likely to feature a dual-core 1GHz processor, a 9.7-inch screen, 10-hour battery life, and a camera for video conferencing. The retailer is not likely to stop carrying rival devices in its stores.

Best Buy’s in-house brand Insignia currently sells less expensive versions of electronics such as high-definition televisions and Blu-ray players.

The electronic retailer has struggled somewhat with its image lately. It appointed a new chief executive in August after a scandal involving his predecessor, an incident that also prompted the resignation of former chairman Richard Schulze. It also reported last month that it earned $33 million in the quarter ending August 4, down 87 percent from the previous year.

Investing Insights: 3 Earnings Releases You Must Know Now.