The price war for Flat Panel TV's is hitting high gear, with Circuit City being the hardest hit so far. Read more here
The price war has been a boon for consumers who, in some cases, were able to snap up the sets over the Thanksgiving weekend at below retailers' cost.
But growing competition and plummeting prices are taking a heavy toll on many retailers. The consumer-electronics market has turned into a free-for-all as the nation's largest electronics retailer, Best Buy Co., has fended off attacks by giant discounter Wal-Mart, which is looking to electronics to help recharge its growth. Flat-panel TVs this season also have cropped up for sale in such unaccustomed venues as home-improvement outlets, office-supply stores and discount chains.
This would be the classic example of a price war among Oligopolists
"Not only did the electronics chain withstand Wal-Mart's initial onslaught, it has continued to gain share. After Wal-Mart publicly crowed about its plan to offer a glitzy Panasonic plasma high-definition TV set for $1,294 the day after Thanksgiving, Best Buy fired back by offering the same TVs for $1,000 and calling it an "unadvertised special.""
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