A planar bistable liquid crystal device, reported in Tsakonas, is modeled within the Landau-de Gennes theory for nematic liquid crystals. This planar device consists of an array of square micrometer-sized wells. We obtain six different classes of equilibrium profiles and these profiles are classified as diagonal or rotated solutions. In the strong anchoring case, we propose a Dirichlet boundary condition that mimics the experimentally imposed tangent boundary conditions. In the weak anchoring case, we present a suitable surface energy and study the multiplicity of solutions as a function of the anchoring strength. We find that diagonal solutions exist for all values of the anchoring strength W≥0, while rotated solutions only exist for W≥W c>0, where W c is a critical anchoring strength that has been computed numerically. We propose a dynamic model for the switching mechanisms based on only dielectric effects. For sufficiently strong external electric fields, we numerically demonstrate diagonal-to-rotated and rotated-to-diagonal switching by allowing for variable anchoring strength across the domain boundary. © 2012 American Physical Society.