Update: read our full review of the Philips Cinema 21:9.

The most hotly anticipated TV of the year – we're a sucker for innovation – the Philips Cinema 21:9 has been given an official street date and pricing which will make your wallet groan.

The good news first is that you don't have to wait that long for the 56-inch TV to hit the shops in the UK, as the Philips 21:9 is available from 18 June. The bad news is that telly will set you back in the region of £4,500.

But, according to Philips, for this price you do get a 5-year warranty and a smart-levelling bracket so you can mount the TV on your wall for everyone to see just what you spent your hard-earned on.

TV features

The Philips 21:9 is the first television of its kind which gives you exact cinema aspect ratio.

Essentially this means, it will get rid of the pesky letter boxing that happens on your 16:9 sets, when you try to play 2.39:1 movies.

Intelligent processing means that other footage not shot in this aspect ratio will be re-sized accordingly.

The TV will also be web-enabled, taking advantage of Philips' NetTV service, is DLNA-certified and is extremely well connected, with five HDMI slots.

Hopefully this gives you enough ammo to fire off to your respective partner about why you really need a TV that costs as much as a Ferrari F1 – albeit a mini one on sale at classiccarsforsale.co.uk now!