What are the actual differences between cheap and expensive smart TVs?

Cheap smart TVs typically use basic LCD panels with edge-LED backlights, resulting in gray blacks and less accurate brightness, while higher-priced models employ QLED, Mini-LED, Micro-RGB, or OLED technologies that deliver wider color gamuts, finer local dimming, and true-black performance. Expensive sets also feature more powerful system-on-chip processors that provide AI-assisted upscaling, superior decoding, and higher refresh rates (up to 120 Hz), which improve image sharpness and gaming responsiveness.