LG. Philips LCD says the "new displays are designed by placing oil and water contained in tiny plastic cells connected to plastic electrodes."
The patent itself says the display uses reflective electrodes formed on the first substrate alongside a transparent insulation layer. The second substrate consists of an electrode and in between two is an electrode layer formed by water and a non electrolytic layer formed by oil.
According to Dailytech, "the oil, which is opaque, sits on the water and covers the colored surface beneath. By applying an electric field, the oil is forced away from the water, making the colored surface visible and changing the pixel color."
As usual, there are no details on manufacturing date or release date and it has so far only patented the technology.
Source:
DailyTech