The cost of televisions, video game consoles and home theater systems has shot up sharply in recent years, pushing prices even higher.
The average cost of an 8-inch television jumped to $1,500 in 2016, up nearly 10% from the year before, according to research firm IHS Markit.
The cost for a 15-inch TV went up to $2,000, and for a 24-inch, to $3,000.
The priciest TVs are going to be the high-end models that typically cost more than $6,000 and feature a high-definition OLED panel.
In the past, IHS said, these devices were the cheapest.
But the trend has accelerated in the past few years.
A new report from the research firm shows that the average price of a brand-new TV has risen by more than 30% in the last year, from $1.50 to $4,000 in the U.S.
The report, released Tuesday, showed that in 2016 prices for all of the top TV brands rose by more at an average of $4.40 per unit.
The price of Apple TV, which was recently bought by the company, rose by $1 to $400.
Apple’s prices rose by nearly $4 per unit, with Amazon, Google, Netflix and Microsoft all adding $1 per unit or more.
And Sony, Samsung, LG and Vizio rose by an average $3 per unit in 2016.
“These are big increases, and they’re coming on the heels of a huge surge in TV prices over the last few years,” IHS analyst Dan Riedel said in a statement.
“With more and more TV manufacturers releasing products that look and feel like TVs, we are seeing more and bigger increases in prices for consumers.”
The average price for an 8GB digital-only DVD player rose from $500 in 2015 to $850 last year.
But IHS noted that some of the most expensive products are going up faster than others, with the most recent top-tier models going up by more then 50% in price since last year’s report.
For example, the $3.1-billion, 4K TV from Samsung climbed to $5,500 last year from $4K.
And the $5.1,000 4K OLED TV from LG climbed to more than a half-million dollars from less than 100,000 last year — a jump of nearly 50%.IHS also released its “Top 50 TV Brands” list last year for the U, and the results show that many of the biggest names have seen their prices skyrocket.
For example, Sony and Samsung both jumped more than 50% last year in price from $3 to $12 per unit and LG jumped more then a third in price to $11,900 from $8,600.
But both companies also lost money in 2016 due to weaker sales of their TVs.
The IHS report showed that Samsung’s price increase came at a time when it was also struggling to attract new customers.
The company’s sales dropped nearly 9% from 2016 to 2017, according the report, and it’s been forced to raise prices to meet demand.
Samsung’s flagship, the Galaxy S8, was the top-selling smartphone in the United States for a second straight year in 2019.
It was released in early 2017.
The average price paid for a 16-inch LCD TV in the country has risen from $750 in 2016 to $900 last year according to the IHS.
The top-of-the-line models that include OLED panels are now cheaper than they were a few years ago.
But IHS cautioned that not all of those new models are necessarily going to make you richer.
IHS did note that the cheapest OLED TVs tend to be made by LG and Samsung, which are also heavily subsidized by governments.
“So the trend is towards higher-priced TVs, which you can then spend more money on in the future,” Ihs said.
“If you buy a brand new TV, you’ll be spending about $400 or $500 more in the long run.
But you might not want to spend that much.”