SEOUL, KOREA- Samsung Electronics and LG Electronics both sharply reduced their domestic prices of Ultra HD TVs, indicating that the price-cutting competition surrounding next-generation high definition TVs is accelerating among major manufacturersAccording to industry sources on October 13, Samsung Electronics recently reduced the domestic prices of its 65/55-inch Ultra HD TVs to 7.4 million won and 4.9 million won, respectively, down 17 percent and 23 percent from 8.9 million won and 6.4 million won set when they were first released in May.

LG Electronics followed suit, lowering the price of its same 65/55-inch basic-type Ultra HD TVs to 7.4 million won and 4.9 million won, down 17 percent from their initial price of 8.9 million won and 5.9 million won.

Ultra HD TV realizes an 8-megapixel image quality (3840 x 2160), four times higher than those of existing full HD TVs which have a resolution of 2 megapixels (1920 x 1080). Even in the United States, Samsung Electronics cut the price of its 65/55-inch Ultra HD TVs, which were released first at a price of $7,500 and $5,500, respectively, to $6,500 and $4,500.