Hisense has unleashed its second ULED TV on the UK market, with it going on sale exclusively in John Lewis.

Dubbed the M700, this Hisense ULED TV follows on from the company’s first model, the XT910, bringing new technologies such as HDR, local dimming, 4K and more powerful smart TV functionality.

ULED is Hisense’s alternative to LG’s OLED technology, promising enhanced colour, contrast, definition and motion. It works by combining advanced hardware and software to accurately control the LED backlight using local dimming to respond dynamically to the image on the screen. Unlike OLED however, it’s not an entirely new panel with each individual pixel its own light source.

While LG’s OLED technology has come down in price in recent years, it’s still offered at a significant premium over traditional LCD TVs. That’s a position Hisense does not find itself in, with Hisense’s ULED technology being specifically designed to offer many of the benefits of OLED, but without the high cost of acquisition.

Installers typically are not interested in the recommended retail price of a product, but in this case it demonstrates the relative affordability of the Hisense TV. While an LG B6 OLED TV will set consumers back £2,799 for a 55in model, the Hisense M7000 will retail for just £799 for the same size. For the 65in models it will be £4,299 and £1,199, respectively.

LG’s latest OLED TV sets do have an advantage over Hisense’s M7000 however, as those sets boast Dolby Vision HDR – probably the best HDR standard currently on the market. That doesn’t mean that the M700 lacks HDR, it’s just the more common HDR:10 standard instead.

Many of the features of M7000 will feel familiar to installers who have experienced the latest and greatest TV sets. It boasts a 4K UHD resolution, as well as upscaling capabilities and a smart TV experience that includes access to the likes of BBC iPlayer, Amazon Video and Netflix. There’s also an in-built web browser and the ability to share content from a smartphone, tablet or computer using the Anyview Cast and Anyview Stream technologies. Connecting the TV to a robust broadband connection can be done either via Wi-Fi or Ethernet.

The Hisense M700 is available now.