Why is the Note 10.1 so cheap in the UK? ?316 + ?50 cash back = ?266

Poitings

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Nov 30, 2012
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I'm not complaining but at the Samsung Galaxy note has just recently been released and the 16GB wifi model was ?399 at launch I was surprised that already it is going for as little as ?316 and I just heard today that Samsung give ?50 cash back on top of that so that means its real price is ?266.
I'm on the verge of buying one but this price drop makes me wonder if a newer model isn't on the horizon.

What do you think?