Thin is in
Set Size: Both LCD TVs and Plasma TVs are very thin. Plasma TVs tend to be quite a bit heavier though, because of the use of two glass panels. The added weight can create a need for reinforcing walls to which they are mounted.
Screen size: Plasma TVs tend to be the larger of the two. This is why one is more likely to come across an inexpensive LCD TV or a portable LCD TV even though inch for inch the Plasma is the more economical to produce. Right now, the plasma market offers TVs as big as 60 inches, and no plasma TV is available smaller than 32 inches. LCD screen sizes range from 13 inches to 46 inches. Recent manufacturing innovations mean that LCDs will soon be able to attain the sizes heretofore only available in Plasma sets, albeit for a larger price tag.
Viewing Angle: Historically, plasma TVs have had a larger viewing angle, at about 160 degrees, when measured against older LCD TVs. Now though it is not unusual to find a Panasonic LCD TV that has a viewing angle of 175 degrees.
Life Span: Both have good lifespan. Plasma sets have been the victims of some unfortunate rumors that the screens will only last five years. The reality is that both Plasma and LCDs have a functional life of 60,000 viewing hours. At four hours a day you will have better than thirty years watching your flat panel LCD or Plasma.
Color: LCD TVs are renowned for a sharp picture and vibrant color. Plasma TVs are known for a wide range of colors and accurate color reproduction.
Brightness: LCD TVs are said to do slightly better in bright-light conditions. Looking at a number of Plasma and LCD TV reviews you will find varying opinions on this subject. It seems that only a real number cruncher can tell the difference.
Contrast: Plasma TVs generally produce very good blacks whereas an LCD TV will produce a very dark charcoal gray. This affects the contrast ratio. Contrast ratio is the measurement of the brightest white against the blackest black that the TV can create. The higher the contrast ratio, the easier it is to discern details on the screen.
Issues: Plasmas sometimes suffer from "burn in" effects. LCD TVs are sometimes susceptible to a delay that causes the outline of figures or objects to appear jagged or streaked.
Cost: While LCDs can cost more than Plasma, when compared to same size sets, prices for both types of TVs are decreasing rapidly.
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