TV makers and retailers have added Ultra-HD TVs to their Black Friday promotions for the first time.
This time last year, the first wave of 4K TVs in the US carried prices of $7,000 and upwards. Today, retail giant Best Buy will have a 55-inch Samsung Ultra-HD Smart TV for $899.99, a price cut of $500. It’s the first time the retailer has offered a Samsung 4K set for less than $1,000. Best Buy will also have bargains on 4K models from LG, Sony and Vizio.
Sales of 4K TVs have risen ninefold over last year, according to the NPD Group. Consumers are spending more for them, on average $2,400, compared with an average price of $450 for traditional HD TVs.
Interest in 4K TVs is higher this holiday season because shoppers better understand the improved image quality the sets deliver, says Stephen Baker, NPD’s vice president of industry analysis.
Prices have declined even faster than for HD TVs, which debuted a decade ago, says Shawn DuBravac, chief economist for the Consumer Electronics Association. “Promotions during Black Friday should both improve consumer’s awareness of the technology, as well as accelerate the uptake of the technology,” he said.