Best Buy Holding iPad 2 Stock for ‘Upcoming Promotion’

Best Buy has disputed claims that it’s in trouble with Apple over frozen iPad 2 stock saying that the units in question are being held because of an ‘upcoming promotion.’

Yesterday, there was a rumor that seemed to indicate that there was a dispute between Apple and Best Buy over the retailer’s decision to freeze iPad 2 stock. Best Buy had supposedly told customers that there were none available because quota had been reached for the day.

Indeed, it seems that Best Buy employees were told not to sell iPad 2 stock on Thursday, but it seems that it was for an ‘upcoming promotion.’ Here is what the retailer told BGR today:

Best Buy continues to receive iPad 2 inventory from Apple on a regular basis. As we’ve said previously, we are fulfilling customer reservations first. Our stores have been asked to temporarily hold non-reserved iPad 2 inventory for an upcoming promotion. This is a customary practice for us when there are supply constraints. Best Buy enjoys a great partnership with Apple, and we’re delighted by customer response to iPad 2.

In other words, false alarm. Not surprisingly, the company didn’t elaborate on the ‘upcoming promotion’ but seeing as though the news of the frozen stock came yesterday, we should know what it is at some point in the not-so-distant future.

This news comes on the heels of rumors that Toys R’ Us would start offering the iPad 2 at some point next month.