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When Sony introduced the world's first high-definition television to the Japanese market in 1990, it was priced at $43,000. This helped Sony to scoop the maximum amount of revenue from the various segments of the market. The price dropped steadily through the years - a 28-inch Sony HDTV cost just over $6,000 in 1993, but a 40-inch Sony HDTV cost only $450 in 2014. What pricing strategy did Sony use here?
Families Earn
The total income generated by all working members in a family unit.
Lorenz Curve
A graphical representation of wealth or income distribution in a society, illustrating inequality.
Richest Families
Families with the highest net worth or wealth, typically acquired through inheritance, investments, or successful business ventures.
Total Income
The sum of all earnings or revenue generated by an individual or entity from various sources before any deductions.
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