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I think the switch from mono to stereo, is what did it.
That second speaker made the TV a bit too wide, so made sense to put them under instead. Also, the switch away from knobs to a row of buttons meant the control panel could also be much more narrow, and the universal adaptation of remote controls made it less important.
Notice how it's usually mono TVs with the horizontal layout, and stereo with the speakers under the screen. Later mono TVs did use the vertical layout, but they were usually economy versions of stereo sets, with some parts removed.
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