OLED (Organic Light Emitting Diode) displays have lower power consumption than LCD (Liquid Crystal Display) displays because they do not require a backlight to produce light. Each pixel in an OLED display can emit its own light, which also allows for higher contrast and finer grayscale levels. However, OLED displays are more prone to color degradation over time than LCD displays, which use filters to create colors. Verified References: OLED vs LCD: How to choose the right display for your phone.
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