Need to be careful about the differences between US and European legislation, warranty doesn't mean much in the EU, a TV with a 1 year warranty that packs up after two years would need repairs at no cost by the manufacturer (manufactures warranty) purely based on the fact that other TV's easily last more than 2 years. Therefore a more general warranty for a TV in the UK would probably be around 5 years.

A known fault makes it ten times worse and has to be acknowledged and repaired by the manufacturer.

No idea about laws in the US I'm afraid... Look online though, a year is a bit unfair