Retailers Dump TVs at Steep Presidents’ Day Discounts, Our Survey Finds
Retailers are flushing out inventories of standard, LED and 3D 2010 flat-panel TVs at steep discounts, our survey of retail sales circulars found last week. For its Presidents’ Day sale through Monday, Hhgregg listed about 15 TV models on sale across a swath of brands. A Sony package combining a 55-inch 3D LED LCD TV with a PS3 player was priced at $2,498, reflecting a $1,300 discount. The retailer chopped $500 off a Samsung 1080p 58-inch plasma TV, bringing it to $1,299, and cut a 50-inch 1080p Samsung plasma 25 percent to $1,079 and a 50-inch 720p model to $719. An LG 720p 50-inch plasma bottomed out at $719, down $80, and a Panasonic 50-inch 720p plasma was offered with $200 savings at $599.
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LCDs also got the ax, a 40-inch Sharp LED LCD TV falling from $1,399 to $899 and a 60-inch Sharp LED LCD TV model discounted $1,200 to $1,799, according to an online ad. In entry-level big-screen product, a Toshiba 40-inch LCD came in at $599, down from $850, and a 50-inch LG plasma TV matched that price. A 47-inch 120Hz LG LED LCD TV took a $500 cut to $1,199.
When we asked an Hhgregg spokeswoman about TV inventories, she referred us to the company’s Feb. 8 earnings webcast (CED Feb 9 p1), on which CEO Dennis May said the company had “overindexed” in new TV technologies including 3DTV and IPTV, and sales in those categories “fell short of expectations.” He said a price gap with conventional TVs has muted growth in 3D set sales, leading the company to “limit near term expectations."
Bargain shoppers found great deals on camcorders and DVD players at Hhgregg over the weekend. A JVC Everio HD camcorder dropped to $199 after a $150 price cut and consumers could snag a no-name DVD player, with rebate, for $9.99 -- less than the price of a new DVD release at most retailers. All products $99 and up are included in the holiday weekend sale, the sale circular said.
The lead bargain Thursday at Amazon.com was a Toshiba 3D bundle of a 46-inch 3D LCD TV, a 3D-capable Blu-ray player and two pairs of 3D glasses for $1,481. The discounts were 42 percent on the glasses, 54 percent on the TV and 27 percent on the Blu-ray player.
Crutchfield sweetened the pot for shoppers last week with Black Friday-style deals. The e-tailer offered at no charge a 19-inch Samsung LCD TV valued at $329 -- and on sale for $269 with a $60 rebate -- with purchases of 10 big-screen TVs themselves discounted with instant rebates. The Samsung PN50C7000 rang in at $1,499 after a $500 rebate, and the step-up PN50C8000 was $1,599 after a $400 rebate, the website said. Both models are Internet- and 3D-ready. Internet- and 3D-ready LED LCD TVs at the top of the Samsung line also offered deep savings: A 55-inch model in the 9000 series was $3,999 after a $999 giveback and the 46-inch version came in at $2,999 after a $2,000 rebate.
Also at Crutchfield, Sony threw in Blu-ray and PS3 players, two pairs of 3D glasses, a 3D transmitter, HDMI cable and a movie with purchases of the 46-inch Sony XBR-46HX909 Bravia TV. The package price was $3,148 after a $351 break. The 52-inch XBR-52HX909, shaved $400, came with the same add-ons: a Blu-ray player and PS3 machine. Sony’s feature-rich XBR-52LX900 LED LCD 3D TV with built-in Wi-Fi, got a $400 shave, and came with the PS3, Blu-ray player and two pairs of glasses.
Sony took the a la carte approach at Costco, where it sold a non-Wi-Fi 3D LED LCD TV for $1,399, a $400 saving, the retailer’s website said. The deal is good through Feb. 28 while supplies last. 3D glasses were not part of the feature pack.
Abt Electronics knocked $1,200 off the price of the premium Sony KDL-55HX800 3D LED LCD TV, slashing it to $1,998. When we called the store asking if a further reduction was available, a salesman told us he could knock off an additional $50 if we purchased that night. Best Buy also had the Sony KDL-55HX800 listed for $1,998. Consumers who wanted the big-screen experience without 3D could get a Panasonic 720p TC-P50C2 for $599, $200 off Best Buy’s standard price, and $250 off the suggested retail price.