Just in time for the holidays, prices of flatscreen televisions will plunge because of a glut of inventory following a sluggish year, reports CNN.com.
Manufacturers have been resisting lowering prices, with the average price for LCD panels actually increasing in July. But prices began dropping in August, with the WorldCup failing to sell more of the TV sets than TV makers had thought.
As a result, prices for the TV screens will be about 5% lower by the end of the month than they were a year earlier, the story says, citing research firm DisplaySearch. Prices will fall even further in October and beyond, with prices expected to bottom out at about 12% below 2009 prices, the article adds.