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Panasonic just announced a slightly more affordable 4K Blu-ray player

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Panasonic already has one 4K Blu-ray player on the market, but at $699 it's not exactly cheap. To help remedy that issue, the company has announced the UB-700 4K Blu-ray player, which will cost around €500 when released, Panasonic announced today at IFA.

Panasonic UB700

The UB700 will come with most of the same features as the more expensive DMP-UB900 — 60fps playback, HDR support, high-res audio playback (WAV, FLAC, DSD, ALAC), and the ability to stream 4K content — but it won't come with THX certification or 7.1 surround sound.

The UB700 will give Panasonic a closer competitor in price to Samsung's UBD-K8500, which is currently selling for just over $300 on Amazon. But both devices still lag behind the Xbox One S, which supports 4K Blu-ray playback and starts at $299.