The South Korean giant has now confirmed to NDTV Gadgets that the phone will be priced at Rs. 51,500. The company said this is the "best buy" price.
Earlier on Monday a retailer claimed that the Galaxy S5 will be priced at Rs. 51,500 (MOP), while the MRP will be Rs. 54,300.
The retailer has further claimed that the Galaxy S5 will be available under a limited period cash back offer at Rs. 49,990 after 20 percent cash back on Citibank cards.
The news comes from a Twitter user named Manish Khatri, who is a retailer (Mahesh Telecom) in Mumbai. Khatri said on Twitter, "Galaxy S5 MRP Rs. 54,300, MOP Rs. 51,500, our price Rs. 49,990/- (20%cash back offer on citi cards*)."
It's worth mentioning that Khatri had claimed that Galaxy S5 will be priced at Rs. 51,500 before the smartphone's India launch.
Notably, the company launched the Exynos-powered octa-core version of the Galaxy S5 in India. It's worth pointing out that Samsung had showcased only a Qualcomm Snapdragon 801-powered version at MWC 2014, amidst much fanfare.
The octa-core Exynos chipset used in the India-variant Galaxy S5 is being specified as the Adonis Prime2 (Quad 1.9GHz + Quad 1.3GHz) + XMM6360 by Samsung. In addition, Samsung had also confirmed that the octa-core variant in India would only offer 3G connectivity, and no 4G like the Snapdragon 801-powered smartphone.
Earlier on Monday, Samsung's three new wearable devices - the Gear Fit, Gear 2 and Gear 2 Neo - were made officially available in India via the company's online store.