Verizon Wireless has quietly reduced the BlackBerry Storm to $49.99. The company’s Web site currently offers a $100 online discount off the original 2-year contract price of $149.99.

According to widespread rumors on the Web, the Storm 2 may be on its way to Verizon Wireless in the next couple of months, which could account for the clearance price.

Intended as a direct competitor to Apple’s iPhone, the Storm, which was Research In Motion’s (RIM) first touchscreen device, has been plagued with problems since its launch. Lacking a physical keyboard, the Storm’s touchscreen didn’t live up to the hype, and glitches with the phone’s operating system have been widely reported.

In an attempt to deal with the phone’s shortcomings, numerous firmware updates have been released for the Storm. Reviews of the most recent update appear to offer users a satisfactory experience.