The range is priced around Rs1.29 lakh, and features proprietary Perfect Pixel HD engine technologies, combined with full HD screen display of 1920 x 1080 pixels resolution.

According to Gunjan Srivastava, director of the consumer electronics division of Philips Electronics India, the company is looking to consolidate its position in the consumer lifestyle segment in India, and is counting on high-end product categories like LCD TVs as growth drivers.

The new TV line-up is more energy- efficient than the previous range, due to the innovative LED light source.

The company also showcased a diamond-encrusted Ambilight LCD High Definition TV, which has been developed in association with New York-based jewellery company A Link. Valued at $150,000, the company claims it to be the "most expensive television", as it features 225 carats of close to 2,250 individual diamonds, set into a floral pattern around the edges of the frame.

Actress Katrina Kaif unveiled the set at a function in Mumbai. The TV would be exhibited in India at different events, and would eventually be auctioned off to charity later before the end of the year, according to a company release.