Recently,‘Liquid crystal display (LCD) vs.organic light-emitting diode (OLED) display:who wins?’ has become a topic of heated debate.In this review,we perform a systematic and comparative study of these two flat panel display technologies.First,we review recent advances in LCDs and OLEDs,including material development,device configuration and system integration.Next we analyze and compare their performances by six key display metrics:response time,contrast ratio,color gamut,lifetime,power efficiency,and panel flexibility.In this section,we focus on two key parameters:motion picture response time (MPRT) and ambient contrast ratio (ACR),which dramatically affect image quality in practical application scenarios.MPRT determines the image blur of a moving picture,and ACR goves the perceived image contrast under ambient lighting conditions.It is intriguing that LCD can achieve comparable or even slightly better MPRT and ACR than OLED,although its response time and contrast ratio are generally perceived to be much inferior to those of OLED.Finally,three future trends are highlighted,including high dynamic range,virtual reality/augmented reality and smart displays with versatile functions.