Microsoft is planning to cut prices of its Surface RT tablets by $150, bringing the price of the base model down to $349.

The announcement is yet to receive an official confirmation from the manufacturer but the latest advertisement on Staples website shows that Microsoft Surface RT prices will be coming down by $150 on every model. Sources familiar with the matter revealed to The Verge that this steep discount on the Surface RT tablets is a result of slow sales.

The discount will come into effect July 14, according to the advertisement on Staples website and it is likely that other retailers may also confirm the discounted price soon. The rate cut on the Microsoft Surface RT brings down the price of the base model 32GB to $349.99 from its original price of 499.99. Buyers can get an additional Touch Cover for the tablet by paying an extra $100. The Surface RT 64GB will be sold at $449.99 and with Touch Cover for $549.99. The software maker has also started off a special discount valid only till September for schools; it is giving away its tablet for $199.

The discount on the Surface RT comes just days after Microsoft Chief Operating Officer, Kevin Turner, revealed plans of launching the newer versions of Surface RT and Surface Pro within the next year at the company's Worldwide Partner Conference on Wednesday.

According to the Verge, Microsoft is planning to integrate a Haswell processor in its Surface Pro and is reportedly testing Surface devices with Qualcomm's Snapdragon 800 processor.

The Redmond, Washington-based company also listed its future plans at its event earlier this week. "Update to Surface RT" and "Update to Surface Pro" was listed in the company's agendas, The Verge reported. The listing also showed that the Surface devices will feature "new accessory colors" and "new accessories."