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ubuntuCanonical this morning reduced the price of the Ubuntu Edge — its hybrid smartphone that doubles as a desktop computer — to $695 after raising only 25 percent of its $32 million crowdfunding goal with two weeks left in the all-or-nothing campaign.

The project on fundraising site Indiegogo is testing the demand for a converged computing device that transitions from smartphone to traditional PC by plugging into a display.

The price drop follows the news on Wednesday that Bloomberg LP had become the first major corporate backer of the project, pledging $80,000 toward the campaign.

The price of the device was previously $830. Canonical is betting that the reduction will boost sales volumes, but the move also could make it tougher to reach the $32 million goal.

“The target is still $32 million, so we will need to ship a few more phones at $695 than we would at a higher price, but we believe we can do it,” the company said in an update. “We have two weeks, and we have the best community out there, so let’s get to work: share this news, get the word out, and let’s get the Ubuntu Edge made!”

Previously‘The phone is the PC’: Ubuntu tests demand for all-in-one device with $32M campaign

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