Amazon.com Inc. didn’t waste any time dropping the price of Ring Inc.’s video doorbell to $99.99 from the prior retail price of $149.99. The announcement came on April 12 at the same time Amazon and Ring officially closed the $1 billion acquisition. The press release said the doorbell reduces burglaries in neighborhoods by as much as 55 percent, according to an LAPD pilot program.

“Our mission to reduce crime in neighborhoods has been at the core of everything we do at Ring,” said Jamie Siminoff, CEO and chief inventor of Ring. “Together with Amazon, we will accelerate our mission dramatically by connecting more neighbors globally and making our security devices and systems more affordable and accessible. The entire Ring team is excited to continue working hard to create products and services that bring real benefits to people’s lives and build safer communities for all our neighbors.”

Amazon became an investor in Ring in 2016 through its Alexa Fund. They said the company will be able to offer the premium product at a non-premium price.

“Ring’s talented team has invented home security products and services that customers love. We’re excited about their work, their products and their mission, and look forward to teaming together to keep delighting customers,” said Dave Limp, SVP of Amazon Devices and Services. “And this is just the beginning—we will continue to move quickly and work hard to empower customers with a suite of security solutions that provide an affordable, effective way to secure homes and neighborhoods.”

Technology reporter Eli Horowitz can be reached at ehorowitz@labusinessjournal.com. Follow him on Twitter @coachhorowitz13 for the latest in L.A. tech news.