The average price of a flat-panel TV rose by 3% to $1,224, the highest in more than two years, as consumers opted for sets with bigger screens and advanced features such as Internet connection.
But that trend for fancier TVs in the second quarter also created buying opportunities for those looking at sets with smaller screens, in the 32 inch to 42 inch range.
The average price of a 32-inch flat-panel TV fell to $435 in the second quarter, down from $495 in the previous quarter, according to IHS iSupply, a market research firm. Also, pricing in June for the 42-inch LCD TV category plunged to an all-time low of $761, down from $807 in May, after two consecutive months of price hikes, the report said.
The increase in average prices overall was attributed to retail stores stocking more sets "sporting advanced technologies, such as 3-D, integrated interactivity and light-emitting diode (LED) backlight technology used in LCD TV sets,” said Edward Border, analyst for TV technology at IHS.
Retailers increased their stock of 3-D sets from 27.8% to 30.9% in the second quarter. Similarly, smart TVs, or those that can be connected to the Internet, went up from 40.9% to 44.3% over the same time period.
“Consumers also are buying a larger portion of sets with Web 2.0 features characteristic of smart TVs," Border said. "Moreover, some large-sized television models in both the LCD and plasma categories increased their share, contributing to overall growth in pricing.”