Within a week of the central government reducing the central value-added tax by four percentage points, most consumer durables manufacturers have marginally reduced product prices.
LG and Samsung have made cuts ranging between 1.5 and 2 per cent on products like refrigerators and washing machines – effective cuts of Rs 150-200 on these high-ticket items.
“The price cut is on specific products that are not manufactured in our excise-free zones,” said an official from LG Electronics India. Videocon Industries said it would cut prices across product categories by 2-3 per cent.
Samsung also announced “double zero per cent” finance schemes on its LCD and plasma television sets -- customers will not have to pay the two per cent processing fee for these loans.
Whirlpool officials said they would reconsider a price increase they had anticipated on account of the depreciating rupee.