In the wake of the upcoming festive season, LG has announced new prices for its 2015 flagship G4 and mid-range G4 Stylus. After the grand launch of LG G4 in June for Rs 51,000, the praiseworthy handset is now available for as low as Rs 40,000. The lauded Leather Black variant is also available at a discounted Rs 45,000 price tag.

If the lowered price tag for G4 still seems high, the South Korean tech giant has a mid-range variant of its flagship, G4 Stylus. The price of G4 Stylus has also been slashed and it is now available for Rs 21,000. This way, LG hopes to attract both premium and mid-range buyers. The new prices are immediately in effect.

"This festive season we wanted to give consumers something to cheer about. The G4 and G4 Stylus are our best offerings in India this year and we have received a phenomenal response to these smartphones till now. With a further revision in prices, we are extending the availability to more and more people to enjoy the superior immersive & innovative experience these phones offer," NDTV quoted LG India's marketing head Amit Gujral as saying.

If you are looking for the best prices for LG G4, try online purchase as it throws in an additional discount. The Ceramic White variant of LG G4 is available for as low as Rs 38,990 and the leather variant costs around Rs 41,000.

It has been a tough year for premium smartphone vendors as competition continues to grow in India. In an attempt to survive, manufacturers are launching smartphones with attractive specs at great prices.

However, well-established companies like Apple, Samsung, LG, Sony and others have refrained from bowing to such tactics. Over the course of time, adjusting the prices according to the consumers' demand is a wise move. LG is setting an example with its generous price cut.

Another leading South Korean manufacturer, Samsung, had recently revealed that it plans to lower the prices of its flagship Galaxy S6 and Galaxy S6 Edge smartphones in India and other countries due to poor sales. This will be interesting as consumers get the benefit of choosing between two high-end flagships at lower prices.