Update (April 24): Samsung today issued a statement noting that it has not reduced the price of Galaxy S5 in India from its end, however you can still grab the phone from e-retailer like Flipkart for less than the official MOP of INR 51,500.

Earlier: Like most high-end smartphones from the company, Samsung Galaxy S5 has seen a price-correction within days of the availability in the Indian market. Samsung Galaxy S5, which was released in the country for INR 51,499 on April 11 along with rest of the world, is now available for just INR 46,831 at e-retailers like Flipkart.

The price-cut was first seen over the weekend but the price was futher decreased earlier today, probably in the anticipation of the HTC One (M8) launch in the country. HTC One (M8) will retail for INR 49,900 in India, which is less than the launch MOP of Galaxy S5.

We expect the Galaxy S5 pricing to go down further over the new few weeks and will probably settle around INR 43,000.

To remind you, Samsung Galaxy S5 is the current flagship smartphone from the company and comes with specifications like 5.1-inch FHD Super AMOLED display, Exynos 5 octa-core processor, 16MP rear camera, KitKat and 2GB of RAM. It will be competing with HTC One (M8) in the country, which seems like a much better offering.