With the intention to pass on the benefit of the excise duty cut announced by the administration, Samsung India, one of the top consumer durables companies in the country, has slashed prices of its liquid crystal display (LCD) televisions and refrigerators.

According to a company statement, the cut in TV prices will be up to 2.5%.

The 22-inch LCD model, which now comes with a tag of Rs 18,500, gets cheaper by Rs 500.

On the other hand, the company has reduced prices by Rs 10,000 on a 52 inch LCD model, which is now priced at Rs 2.9 lakh.

Moreover, Samsung also announced the reduction in the prices of its Plasma TV, which will be cheaper by Rs 1000-6000, and come with a price tag of Rs 59,000-1,29,000.

Earlier, there were reports that consumer durables companies were not ready to slash costs even after a four percent reduction in Cenvat by the government, as input costs were high because of rupee appreciation.

The Korean major has four series of LCD TVs available in the Indian market.

The company also announced an average price drop of 1.5-2% for its direct-cool and frost-free refrigerators, translating into a reduction of Rs 50-300.

Prices of semi-automatic and fully automatic washing machines were also dropped by about 1.5-2%, the statement added.