Televisions nowadays are normally pretty accurate right out of the box, but there are still some things you can (and should) do to maximize their performance and color accuracy. This can range from choosing the (generally) most accurate picture mode, to using a setup disc to adjust menu options, to getting a full-blown calibration with specialized equipment from a trained professional. On some inexpensive budget TVs your menu options might be more limited, missing color temperature for instance or maybe even restricted to just brightness control, but for sets over $500 these settings have thankfully become the norm. Let’s take a look at the options from the most basic to the most involved.
Source: IGN.com How to Properly Setup (and Calibrate) Your New TV