Samsung India, one of the leading fast moving, consumer durables companies in the country, Thursday slashed prices of its liquid crystal display (LCD) televisions and refrigerators in an attempt to pass on the benefit of the excise duty cut announced by the government Sunday.
The 52-inch LCD model will now be cheaper by as much as Rs.10,000, a company statement said.
The new price range for the company's LCD TVs will be Rs.59,000-Rs.129,000.
Earlier there were reports that consumer durables companies were reluctant to cut prices even after a four percent cut in the central value-added tax (Cenvat), as input costs were high due to rupee appreciation.
Samsung has four series of LCD televisions available in the Indian market.
The company also announced an average price drop of two percent for its direct-cool and frost-free refrigerators, which will translate into a reduction of Rs.50 to Rs.250 for consumers.
Prices of semi-automatic and fully automatic washing machines were also dropped by about 1.5 percent, the statement added.