The best places in terms of range, price and quality in the West/Central Algarve, IMHO, for TV/DVD/Home Entertainment equipment are:
1) FNAC - Algarve Shopping in Guia
2) Radio Popular - Portimão Retail Park and Guia
3) The New Worten at the new Retail Park in Portimão opposite Mad Max.
All the above also have good online sites where you can check out their stock beforehand.
In Lagos, the guys at Worten in Modelo are v. helpful and if they don't have what you want in stock they will try to get it for you.
If you want to go on a day trip, El Corte Inglés in Huelva and Media Markt
in Seville are very good as well in terms of quality and often price. El Corte Ingles also offers good insurance options for expensive equipment.