Described as being a" little different" the new TV is made from a single pane of glass, that is clear at the bottom, users can prop it up against a wall or mount in on the wall.
Observers believe TV which is set to launch in the last quarter could be the product that shakes up the TV market running into the peak end of year buying period.
In Europe the 55" version of the TV is selling for $4,445 despite it looking better than the $12,000 Bang & Olufsen TV.
ChannelNews understands that the makers of the TV, Chinese Company TP Vision is set to deliver a sub $6,000 Ultra High Definition version of the TV before the end of the year.
Earlier this year three Australian distributors vied to get the rights to the new Philips TV.
The Daily Mail in the UK described the new TV as "effortlessly cooler than any of the surprisingly large number of 'world's thinnest' TVs unveiled by other companies.
TP Vision Company claims the DesignLine 'elevates technology to an art form'.
One of the distributors who was chasing to get the rights to the Philips TV said "Powermove have got what will be the best TV sold this year". They will do very well with it".
Earlier this month Kogan moved to range online several bottom end Philips TV's which are being sourced from an overseas supplier, Philips pulled out of the Australian market on 31 December 2008 due primarily to poor marketing and feature sets that did not appeal to Australians.
Trusted Reviews who has seen and played with the TV said 'The fact that the screen goes black when the TV's not on means the DesignLine set looks like a gorgeous high-gloss monolithic sculpture when you're not using it. Next, mounting the screen atop a single sheet of glass floor stand creates the impression that the TV is unfeasibly slim and light, moving closer toward that grand TV design idea of a picture that's just floating in the air'.
They added 'This 'floating' impression is taken to a whole new level, moreover, by the way the black glass gradually fades to see-through glass over the stand's bottom third or so. This fade to transparency is also outrageously stylish, and makes it absolutely clear - if you'll forgive the pun - that the TV's stand really is made from glass; it's not some sort of optical illusion'.
The DesignLine can be fixed on a wall, though its best set up directly on the floor, leaning back slightly so that it can be secured to a wall. There will also be a brass plinth later in the year that the TV can slot into, allowing users to move it away from a wall.
The TV is made of shatter-proof glass.