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This looks spectacular!

I didn't quite get how it works. Is it essentially an LCD panel with an extreme backlight, and a lens to correctly display the picture?

Yes. Much like many consumer projectors.

Most of them are actually DLP these days, with LCD-based ones occupying the majority of the ultra-low-end (XGA and below).

This is true. But it was only a decade ago that most projectors were just LCDs with a ridiculously inefficient lamp.

Even the ultra-low end are frequently DLP these days, just replacing the powerful bulb with an under powered LED.

> replacing the powerful bulb with an under powered LED.

I've also seen that Sony and Epson are selling laser illuminated projectors as opposed to the more common LED/halogen/etc illuminated projectors. Apparently for high luminosity, laser becomes more efficient and less prone to damage than both LED, halogen, incandescent, argon/xenon etc.

But it disappoints me that these projectors just use the laser for illumination. I'm waiting for when we have laser-on-DLP without filters type projectors.

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