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Samsung Galaxy Tab Now $500 @ Verizon

Droid Life reports that Verizon Wireless is gearing up to offer the Samsung Galaxy Tab for $499.99, reducing the previously hefty price by $100.

Although there's no indication of when this new pricetag will actually take place, Verizon will supposedly provide a $100 refund to those who purchased the tablet within the last 14 days prior to the new reduction. In addition, Verizon will also bundle the new tablet with $60 worth of movie rentals from Blockbuster or Samsung's Media Hub multimedia service.

Serving as one of the first non-Apple tablets to hit the market, the Samsung Galaxy Tab sports a 7-inch TFT display with a WSVGA resolution, a 1 GHz Cortex A8 processor, PowerVR SGX540 graphics, a pre-installed 16 GB microSD card, a 3MP rear-facing camera and a 1.3MP front-facing camera, Android 2.2 "Froyo" with built-in Flash support, 802.11 b/g/n, Bluetooth, 3G connectivity and more.

Consumers who purchase the Samsung Galaxy Tab from Verizon won't be "locked" to a 2-year commitment, as the wireless carrier provides month-to-month fees similar to AT&T's non-contract tablet options. Currently Verizon charges 1 GB for $20 per month, 3 GB for $35 per month, 5 GB for $50 per month and 10 GB for $80 per month.

As of this writing, Verizon's online listing still reads $599.99, so keep checking in with your local brick-and-mortar retail stores to see when the price drops goes into affect.