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I don't think I've heard of a 48-inch HDTV before but Amazon's TCL brand has one down to $549. That's cheapest ever by about $50. I think the real story here is the 240Hz. I don't think there is a 240Hz HDTV this cheap (at least not in this approx. size). If you know of one link us in the comments of this deal.
TCL is killing it with their low cost / everyman TVs.
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$49.99$37.50at Green Man Gaming