Seems like both kinds of display tech have their pros and cons.

For LCDs, their colours tend to be more subdued, if not more accurate, than OLEDs, though recent stuff has been very close to what could be produced in a high-end IPS LCD.

Of course, OLEDs can have insane blacks compared to LCDs. Power efficiency is about on par with an LCD so long as it's not displaying black-on-white text content. It's also easier to burn an OLED especially if the display is static (I hope you do things on your phone)!

Plasmas are also a good contender for TVs, but they tend to eat up a lot of power.

Am I the only one longing for a smartphone with a front-lit LCD?