Wendy Zhang/ Shanghai Daily news

Many flat-screen TVs will see their prices slashed by up to half at the upcoming 10th annual Shanghai Color TV Festival from September 9 to October 7, Youth Post reported today.
Since 1999, prices of flat-screen TVs have been cut by an average of 20,000 yuan (US$2,500) every year.
The local TV market has maintained an upward trend this year, with sales of 1.28 million last year, up 8.2 percent from a year earlier, said Qi Xiaozhai, vice director with the Shanghai Business Information Center, adding that every 100 households in the city now own 177 color TVs.
In the first half of this year, a total of 690,900 color TVs were sold in the city, an increase of 6.1 percent from a year before.
Flat-screen TVs, including Liquid Crystal Display (LCD) and Plasmas, have become hot sellers in the market, said a spokesman with the organizing committee of the 10th Shanghai Color TV Festival, which will open at the Shanghai Commercial Center.
At the festival, the prices of these luxury TV sets will be more affordable to ordinary consumers, with 32-inch LCD TVs priced below 4,000 yuan, 37-inch LCD TVs around 5,000-plus yuan, 42-inch Plasma TVs around 7,000 yuan and 20-inch LCD TVs below 2,000 yuan, the spokesman pointed out, adding that the prices are half of the original ones.
At the 9th Shanghai Color TV Festival last year, more than 230,000 color TVs were sold with a sales volume of 870 million yuan.