In case you missed it yesterday, Amazon dropped the price of the Kindle to $299. Rumor has it the price drop comes as a result of increased competition from other manufacturers eager to enter the market.

Ross Rubin, a consumer analyst at NPD group had some disparaging remarks. “While it is a significant drop both in terms of the overall percentage of the price as well as getting under the $300 barrier, it is still not going to be enough to break it out of its niche,” he said. For the most part I agree. Getting under $300 probably means a few more people will pick up the device, but the price of the media hasn’t changed, and neither have the DRM issues, so it’s tough to see the Kindle really “take off” as a result of the cut.

Amazon will be offering consumers a $60 credit if they purchased a Kindle in the last 30 days. The Kindle DX, which sports a larger screen, remains at the $489 price point. For now, anyway.