OLED, meaning Organic Light Emitting Diode is a relatively new technology with the potential to replace current LCD and LED televisions, monitors, and cell phone displays.  It is structurally more complex than traditional LEDs and utilizes organic, carbon-based semiconductor materials for the emission region rather than silicon or germanium. 

An OLED module display is made up of many layers; first it is sealed on the top or bottom by a transparent material, usually glass or plastic.  On each side is placed either an anode or a cathode, one of which must also be transparent for the light to be emitted effectively.  Finally, within the anode and cathode are the organic LED compounds, called an emissive layer on the cathode side and conductive layer on the anode.  When a positive voltage is placed on the anode, holes jump across the emissive conductive barrier and join with electrons, which produces a photon of light.

An OLED can be made far thinner than any known LCD technology, not only the material itself but the lack of any needed backlight, since LEDs emit their light while liquid crystals only manipulate the passage of light.  The potential for flexible displays, less energy usage, higher contrast and refresh rates, and cheaper displays is driving many companies to make OLEDs mainstream.