From the fierce battle that is present on the flat screen television market, the ones that are going to be advantaged are the buyers, as product quality and performances are permanently going to increase and the prices are expected to decrease to levels that are going to be considered affordable by most users.
LCD (liquid crystal display) televisions are based on a technology that is simple, but requires a complex producing process. The technology is based on liquid crystal cells pressed between two transparent panels. Similar to plasma screens, the crystals are passed by electrical charges at different voltage levels, thus creating the image we see. The illumination is provided by a backlight that can adjust the brightness levels in order to get a pleasant picture with vivid colors. However, using the backlight means that black is not going to be reproduced very well and it can sometimes look like a very dark grey. This is a fact that certainly disturbs the movie passionate, as they are known as persons that appreciate a perfect image. LCD screens have the advantage of coming with high resolutions that help in achieving a very detailed image. On the other hand, they also have the issue of the response time, which can become disturbing whenever watching fast-paced images like sports or action movies. However, with the latest generation of LCD screens, this has been mostly solved as only trained eyes can percept the response time. Another problem of LCD panels is the fact that some suffer from so-called "dead pixels", pixels that are black or blocked on a single color. There is always the risk of getting one, even if you have bought the television perfectly working, so it mostly depends on your luck.
Knowing these facts, it is up to you to choose a flat screen television, regardless if it is a plasma television or an LCD one, but be aware of your needs and adjust the budget in order to satisfy them.