LG Producing 32in OLED TVs in 2012

@TV - I'm afraid you're confusing LED backlit screens with OLED screens. The biggest difference is that the former is transmissive (i.e. the LEDs generate the 'usually' constant light source, either from the back or the side, which is then selectively passed through the colour filters of an LCD to make the picture). The latter, however, is emissive (the coloured light is generated directly from the OLED layers with each sub-pixel individually lit and controlled by its own light source).

The two technologies are only similar in that both display types will (unless it's a passive OLED display) use an active matrix TFT layer to route and control the power to each sub-pixel - that's why some OLED displays are also called 'AM-OLED' displays.

Some of the advantages of an OLED display are: Excellent viewing angles because the light is emissive by nature. Good contrast and colour fidelity because the light output of each pixel can be controlled. Low power consumption. And of course a thin design because there is no need for a separate light source at the rear or the side.

OLED displays are, by design, quite simple too, which has enabled some manufacturers to construct fancy evenly-lit 'flexible' OLED displays - its not exactly practical to make a flexible display with a light source that's fixed in-situ like those found in conventional LCDs and LED backlit LCDs.