Sharp announces that it has developed a LCD display with the world's highest contrast ratio of 1,000,000:1.

The Sharp ASV Premium LCD display panel has a size of 37 inch, 1920x1080 pixel resolution and a brightness of 500cd/m2.
Sharp aims the Mega Contrast LCD display at the professional TV and movie production industry. Message to Sharp: I also want a LCD display that works well in bright rooms. No word on when this new Sharp ASV Premium LCD displays will be available.
The highest contrast ratio we reported so far about was 100,000:1 reached by a SED TV developed by Canon and Toshiba.
More details in this Sharp press-release (Japanese).

Update:
Bit-Tech (Thanks Alex D.) has an interesting post about the new Sharp display. The highlight that the brightness is very low with the new ASV premium display. The compare the new Sharp display to the BrightSide DR-37-P the world's first high dynamic range display featuring 4000 cd/m2.

More Top LCD TVs.