Reliance Infocomm proposes to bring down the cost of its new mobile handsets by about 40 per cent for the black-and-white models and 15 per cent for its colour phones. The base model black-and-white LG handset will, for instance, come at a bargain price of Rs 1,500 as against the existing price of Rs 2,500. Similarly, its colour LG handsets will now be available for Rs 3,800 against the current Rs 4,500.