OLED has been touted as the flat-panel display technology of the future, mainly because it does not require a backlight, making displays extremely thin and less power consuming. OLED displays also offer richer blacks and faster refresh rates then LCD or PDP, making pictures more vivid and bright.
Sony has not yet confirmed the report but did say that the XEL-1 had received a "positive reception" from its Japanese and US customers and it is considering expanding into Europe.
The one downside so far has been price. Retailing for about ¥200,000 ($1,829 USD) in Japan and $2,500 USD here in the States, consumers cannot justify purchasing such a small TV. In comparison, most 50 inch LCD TVs cost $1800-$3000 USD and the same for PDPs.