When HP launched its TouchPad tablet 48 days ago there were no takers for the device, which came at a price of $500 for 16GB version and $600 for 32GB version.

Then the technology giant slashed the price by $100, unable to compete with iPad 2 and other Android rivals. Still, there were no buyers and retailers like Best Buy had more than 200,000 units left unsold.

Now, TouchPads suddenly are selling like hotcakes courtesy HP's clearance sale following its decision to discontinue webOS devices. HP began to offer Touchpads at $99 for 16GB and $149 for 32GB this Saturday.

The moment the news spread, the devices suddenly became hot favorites and inventories were eventually sold out.

Due to the significant price reduction, we experienced overwhelming demand for the product and are temporarily out of inventory, HP said in a statement.

But, HP's social media manager Bryna Corcoran tweeted: New inventory coming is from a warehouse, not being manufactured.

So, here are the key reasons why should you own a TouchPad despite the fact that HP has performed the last rites on the tablet device:

* First things first. It is a great deal for $99 as you are getting a decent hardware capable of sending mails, surfing net along with 1.2GHz Snapdragon chip, 9.7-inch screen, 1GB of RAM and 1.3MP camera.

* Though the tablet got lackluster reviews, webOS is decent software that has been critically acclaimed in the past. HP recently rolled out an update webOS 3.0.2 to make the device faster and responsive.

* If you don't like webOS, then your TouchPad could eventually run on an Android device. The site Hack N Mod has offered a $1,500 prize for anyone who can get Android on the HP TouchPad. In other words, you could be getting an Android Honeycomb or even Ice Cream Sandwich tablet for $99.

* You could gift your kids a $99 TouchPad if you fear they could harm a higher-priced iPad as it does all the basics like e-mails, multimedia playback, read books and offer a strong Web experience. It even offers true multitasking, a distinct advantage over the iOS.

If you are ready to put in your money on TouchPad, here goes the technical specification of the HP tablet:

   
   

Operating System

WebOS 3.0

 

Display

9.7-inch XGA capacitive, multitouch screen, 1024x768 resolution

 

Dimensions

Width: 7.48 inches
Height: 9.45 inches

 

Weight

1.6 pounds

 

Processor

Qualcomm Snapdragon dual-CPU APQ8060 1.2GHz

 

Camera

Front-facing 1.3-megapixel webcam for live video calling

 

Sensors

Light sensor, accelerometer, compass (magnetometer), and gyroscope

 

Media Formats Supported

Audio formats: DRM-free MP3, AAC, AAC+, eAAC+, AMR, QCELP, WAV
Video formats: MPEG-4, H.263, H.264

 

Wireless Connectivity

Wi-Fi 802.11a/b/g/n with WPA, WPA2, WEP, 802.1X authentication;
Bluetooth wireless technology 2.1 + EDR with A2DP stereo Bluetooth support

 

Memory

16GB or 32GB

 

Battery

Rechargeable 6300 mAh (typical battery)

 

Ports

Connector Charger/microUSB connector with USB 2.0 Hi-Speed;
Headphone jack 3.5mm stereo headset/headphone/microphone jack