Retention Of Image
Unlike Plasma TV, there is no burn-in of images in LCD display. That gives it an edge over plasma. Similar for LCD TV is image sticking. However for normal TV viewing the burn-in phenomenon is not perceptible and is not a vital factor and image sticking in LCD does not happen when used for normal home entertainment.
Computer Use
LCDs are considered a better option for use as PC monitor. This is because their detailed graphic display is better and there is no burn-in of image like plasma.
Lifespan
A half lifetime of about 60,000 hours is advertised for both Plasma and LCD TV. Even scaling it down to 30,000 hours means a lifetime of more than 14 years assuming 6 hours a day use. So when viewed in the perspective of replacement of TV sets every 7 years by the average household, the matter becomes a non-issue for both the forms. The display technology in both is quite reliable and stable and so lifespan is dependent not on the ability of display but the quality of the manufacturer’s product.
Pixels & Response Time
LCD displays during use are more vulnerable to developing bad pixels in spite of offer of the policy of zero bad pixels by the LCD manufacturers. Plasma TV has an advantage in this respect. Phosphor based displays still have better pixel response time which LCD is yet to catch on with.
Power Requirements
Consumption of electricity is less in respect of LCD TV sets. If we compare power requirement for same size display, the power consumption by an LCD panel is found to be 30-40% less compared to plasma display.
Summary
Both technologies have their advantages and disadvantages. At same price level, plasma TV provides larger screen, deeper black and better pixel response time but with burn-in and more consumption of power and less slim at the smaller screen size. The choice has to be made by the user depending on his needs.