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LS11000 is better. Has laser light source, 4-way pixel shifting for true 4K. The only thing the 5050UB has to offer that the other one doesn't is 3D capability.
Epson specification claims:What about the difference in contrast between the two please ?
I should probably also add that I currently own a LS12000 and it is by far the best PJ I've ever owned. It's super-bright and does HDR very well (by projection standards). Formerly I owned the Epson 5040 UB.