Photographed above is a sterling silver rotary phone dialer from Tiffany & Co. similar to the one George Peppard offered to buy Audrey Hepburn in Breakfast at Tiffany’s. To many at Amazon, it quickly became apparent that if they didn't make a change – quick – it was likely that their contribution to the blower would be about as relevant as this relic, with none of the nostalgia. It’s the most profitable time of the year for Amazon (NASDAQ: AMZN), which had its busiest day ever on Black Friday, despite a sluggish Black Friday overall. You would never know it by looking at their free-falling stock. This follows a failure-to-rally after last week’s gimmicky price drop for its first smart phone, the Fire Phone, which was failing to compete with more established brands. “It’s no secret that the Amazon Fire Phone has been an absolute sales disaster in the U.S.,” Carmi Levy, a tech analyst with Voices.com, told the Financial Post last week, saying that the reason was that “it didn't offer a compelling enough reason to smartphone owners to switch from the phones they currently have and are satisfied with.” Noting that some said the decision by Amazon smacked of desperation, we asked Andrew Schrage, co-owner of Money Crashers Personal Finance, how wise he thought this move was. “I don't know that I'd call it desperation, but I think it was a necessary move on its part. After launch, sales were much less than projections and it took a $170 million charge (mainly because of that) in the third quarter. The timing of the release date didn't help much either – it came right around the same time the iPhone 6 hit the market. After reporting its third quarter losses, Amazon stock fell by roughly 11%. After the price reduction was announced, the effect on its stock was minimal.” Shares of Amazon are down from 333.83 on Wednesday morning, when the markets awoke to news of the new phone deal, to 327.50 at the opening bell this morning. And sinking. As of 2:30, Amazon was at 324.55, down 1.45 points (0.41%). The hit can be largely attributed to Moody's downgrade of Amazon's credit rating to "negative" from "stable" as difficulties continue to neutralize the spoils of successful sales, but CEO Jeff Bezos has already called the Fire Phone a bet that didn't pay off (and cost Amazon a $170 million writedown in October). While a cheap phone may prove to be a market player eventually, for now it seems that the play by Amazon wasn't worth much more than the product.