The system was licensed from Daewoo in Korea. I think that they brought it out to compete for a military or LE contract that never materialized. It's kind of a kludgy system and never gained popularity with either the FN or Korean guns. I imagine that there are a bunch of them taking up shelf space and so the low price. Nothing wrong with them, just nobody wanted them.
By the way, Browning never made any HiPowers anyway. They have always been FNs. Browning was the US distributor for the P-35 that was made by FN and at time also in Canada, Argentina and China. The guns Browning sold had their logo and imprint placed on the slide, but other than that were the same P-35s as sold everywhere else in the world. It was designed by John Browning originally as a striker fired pistol to meet French Military needs. Unfortunately, JB died during the developement stages and never lived to see the final product. Dieudonne Saive did the original design work on the then revolutionary staggered stack 15 round magazines and completed the design after JB's death. It was the only pistol that was manufactured for use by both sides during WWII. Today, FN owns Browning.