SEIKI, the maker of the world’s most inexpensive 50″ 4K HDTV, has announced the 39″ 4K HDTV costing only $699. This model, the SE39UY04, is 3840×2160 (over 8 million pixels). It also supports a 120Hz refresh rate at 1920×1080.
EDIT: Its 120Hz support of 1080p currently has a firmware bug. However, the 50″ version does 1080p at 120Hz flawlessly.