Vizio is showing off its monstrous 120-inch Reference series ultra HD TV along with five other low-priced P-series 4K TVs at the CES 2014.

Vizio is kicking off this year's CES with an incredible lineup of ultra HD 4K TVs. While the Irvine-based electronics company is meeting the high-end demands, it is also maintaining its efficient pricing for budget-conscious consumers. The newest addition to its TV lineup includes a giant 120-inch Ultra HD TV, putting behind Samsung's $152,000 110-inch UHD TV. The new model is the first in the company's latest R-series (Reference), introduced at the CES 2014. The TV-maker also showed off the new P-series 4K TV lineup, which comprises of five new models starting at $999.99.

Vizio 120-Inch R-series UHD TV features true high dynamic range (HDR) that improves the brightness and contrast of the picture, making the content more vibrant than other UHD TVs. The TV runs on Vizio's V6 processor, which comprises of a quad-core GPU and a dual-core CPU to add more detail to the content by scanning each frame of a movie. The giant TV comes with its own base, which is fitted with a 10-inch wireless subwoofer complimenting the 5.1 Dolby Surround sound bar that sits between the screen and the base.

Vizio did not reveal the price or the exact release data of its R-series UHD TV, but is likely to come with a hefty price tag in the second half of 2014.

Vizio also showed five new 4K TVs at the lavish event. The new TVs in Vizio P-series lineup include different sizes - 50-inch, 55-inch, 60-inch, 65-inch and 70-inch 4K LED backlit Smart TVs. All TVs support Ultra HD streaming through apps such as Netflix.

"As more content becomes available, we took a step back and designed our Ultra HD platform with the features and performance to last as the space expands," Matt McRae, Chief Technology Officer, VIZIO, said in a press release. "VIZIO's new P-Series collection contains a carefully developed assortment of new VIZIO innovations that dramatically improve picture quality and Smart TV features, culminating in a beautifully simple Ultra HD option for discerning viewers."

Vizio has priced its P-series lineup keeping budget-conscious customers in mind. The 50-inch model is priced at $999.99, 55-inch for $1,399.99, 60-inch for $1,799.99, 65-inch for $2,199.99 and the 70-inch model will sell for $2,599.99.