The script, which is believed to have been written by Juan Cabral, the creative behind "balls", uses fireworks and paint to illustrate the Sony Bravia LCD TV's ability to recreate true-to-life colours.
Like its predecessor, the ad will eschew the use of computer-generated visual effects in favour of capturing a live event on camera. It will be shot on location in the UK.
Despite being hotly tipped for the Grand Prix at Cannes last week, "balls" was beaten by the Abbott Mead Vickers BBDO Guinness "noitulove" spot, and had to make do with a gold Film Lion.
The ad will be only the second the award-winning Glazer has shot since completing his second feature film, Birth. Glazer also took home a gold Lion from Cannes this year for Lowe London's "ice-skating priests" for Stella Artois.
Cabral also won the Grand Prix in the Outdoor category at Cannes 2006 for his poster campaign for Tate Britain.
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