Luke Littler overcame Luke Humphries to enact some revenge for December’s World Championship final defeat but ‘The Nuke’ ultimately fell to Smith.
The teenager hit six 180s in a match of the highest quality and fought his way back from 4-2 down.
Littler hit the bullseye to break back at 4-3 and the game then went with throw into the deciding leg.
Smith held his nerve after Littler - who averaged 105.31 - missed a double 15 match dart to take out double top and set up a final date with home favourite Price, one he duly dominated.
Price won the opening leg but it was pretty much one-way traffic after that as Smith rattled off five straight legs.
Smith lost the seventh leg against a disappointing Price, but a fifth 180 of the match saw the 2023 world champion across the line in emphatic fashion.