Fresh off the back of revealing two new home projectors, Epson has announced a third, more affordable product to its range.

Last week the company said it would be releasing Home Cinema 2040 and Home Cinema 2045 projectors. It has now stated that there will be a third offering coming to the home projector market in the form of the Home Cinema 740HD projector.

The Home Cinema 740HD projector has a 15,000:1 dynamic contrast ratio as well as 3,000 lumens of white and colour brightness. This is compared to the 35,000:1 dynamic contrast ratio and 2,200 lumens of colour brightness and 3D performance that the 2040 and 2045 models boast.

With a price of just $649 (£420), the Home Cinema 740HD is a cheaper alternative for anyone who wants a cinema projector in their home. It is due for release in September 2015.

The new release has 3LCD 3-chip technology, which the company says will enable it to deliver brighter and more vivid images. It also has a 1.2x optical zoom, and can display on surfaces up to 30-inches. The 740HD comes with built-in sound, and an HDMI port for connecting to various sources.

Jason Palmer, marketing manager for Epson America, commented: “With features including portability, built-in sound, flexible setup and placement and high brightness, the Home Cinema 740HD is the ideal projector for families to bring the big-screen experience to the comfort of their home.”