Recently, the Indian government announced a 2 per cent excise duty cut to accelerate consumer spending by enabling companies to cut down their prices. And companies are following suit.
Samsung has said that will pass on the benefit of the excise duty cut to its customers in India by lowering the products prices between 1 and 1.7 per cent. “The company has decided to reduce prices of its LCD televisions by 1.2-1.7 per cent depending on the model size, which translates into an end customer price reduction of Rs.1,000 to Rs.5,000,” Samsung said in a statement.
As far as the plasma television sets are concerned, prices are lowered by Rs 1000-2000 depending on the model, the company said. Samsung is increasingly popular in the LCD TV market in India – Sony is still the brand leader, but Samsung LCD TV are considered much more value for money.
As far as the home electrical appliances from Samsung are concerned, it has reduced prices by up to 1.5 per cent for its frost-free refrigerators whereas in the case of washing machines, the price cuts range between 1 per cent and 1.6 per cent for semi-automatic washing machines and fully automatic washing machines. In rupee terms, the refrigerator price cut to end customers will range between Rs. 100 to Rs.300 and for washing machine users it will range between Rs. 90 to Rs 340.
The price cuts should enable Samsung to cement its position in India’s consumer appliances and electronics market.