LED? No, OLED

The appearance of LG's 15-inch OLED TV at IFA 2009 is a small (but significant) step on the road to replacing LCD, LED and plasma technology.
Organic Light Emitting Diode (OLED) technology is poised to oust LCD just as LCD stuck the knife into the CRT.

An OLED panel consists of a layer of organic, light-emitting material sandwiched between two conductors (an anode and a cathode). This diode layer emits light when an electric current is passed through it. A TV panel features thousands of OLED pixels mounted in rows and columns onto a TFT array. This is referred to as an Active Matrix OLED or AMOLED display.

Advantages:

No backlighting required
OLED outperforms LCD and LED
Sony, LG and Samsung love OLED
OLED is available now (albeit in small sizes)
OLED can be 'flexible'
OLED can be 'transparent'

But:

OLED is expensive
It is not a perfect Technology
OLED displays are expensive to manufacture
There are concerns about its lifespan

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