The OLED display is based an organic substance used as the semiconductor material in light-emitting diodes (LEDs). The display is created by sandwiching organic thin films between two conductors. When an electrical current is applied to this structure, it emits a bright light. Because OLED displays don't require backlighting, they can be thinner and weigh less than other display technologies. OLED displays also have a wide viewing angle -- up to 160 degrees even in bright light -- and use only two to ten volts to operate.
OLED technology was pioneered at Kodak, by Dr. Ching W. Tang. OLED variations include the FOLED (flexible organic light-emitting display), which promises to bring portable, roll-up displays to the consumer market.
Vendors of OLED TVs include LG and Samsung.
Pros: Extremely thin displays, with the best picture quality of any of the flat-panels. Low power requirements. Very wide viewing angle, contrast ratio of 1.000.000:1.
Cons: Very expensive. However, the prices are expected to drop as the technology matures.