Report: Best Buy has more than 240K unsold HP TouchPads

Best Buy has more than 240,000 unsold units of the HP TouchPad in its inventory, indicating that consumers aren’t responding well to the product.

Both HP and Best Buy declined to provide an official comment on this story.

Specifically, Best Buy has sold just 25,000 of its 270,000 initial HP TouchPad stock, according to AllThingsD. The news isn’t terribly surprising after HP permanently cut the TouchPad’s price by $100 about a month after its release. The TouchPad 16GB version is now selling for $399 while the 32GB version sells for $499.

HP faces steep competition from the ever-popular iPad and a slew of recent Android-based tablets like the Samsung Galaxy Tab 10.1. And it probably hasn’t helped that the TouchPad’s most prominent ad features lesser-known celebrities (in the U.S.) like British comic Russell Brand and boxer/singer Manny Pacquiao. When the product has generally low interest, it’s best to pony up for the biggest celebs you can get.

Although it isn’t selling well, the TouchPad does have decent specs and some interesting features. The 9.7-inch tablet features a dual-core 1.2-GHz Snapdragon processor and a front-facing camera for video conferencing. It also runs the very cool WebOS, which puts Apple’s iOS on the iPad 2 to shame when it comes to multitasking.

Do you think the TouchPad is finished before it can even get started?