Verizon Cuts Galaxy Tab to $500, Refunds Inbound

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Good news and good news for Verizon Galaxy Tab owners and anyone thinking about picking up this diminutive slate: The price is dropping by $100 to $500, and anyone who bought one at the old price gets a refund.

Or, should I say, they will when Verizon institutes the new pricing. The move hasn't technically happened yet, but it is happening soon. The new price reportedly arrives with $60 in movie rentals for the Samsung Media Hub or the Blockbuster Mobile app as well (the latter app is already preloaded on all Galaxy Tab devices).

Preexisting customers who've already bought the Tab and can provide a receipt proving they purchased it within 14 days of the new price going live are entitled to a refund for the difference. [Droid-Life via Engadget]