The Electronics and Telecommunications Research Institute (ETRI), a government-funded think tank, has developed a new organic light emitting diode (OLED) lamp, which has an electricity consumption efficiency four times higher than that of typical incandescent electric lamps.
The ETRI-developed white OLED lamp has an efficiency of 70 lumens per watt, more than four times higher than the typical 15 lumens per watt of incandescent lamps. Remarkably, the new OLED lamp is also an environmentally-friendly invention in which no mercury is used.
In a lab environment, the OLED lamp has a lifetime of 10,000 hours, 20 percent longer than existing fluorescent lamps' 8,000-hour lifetime. The OLED lamp market is expected to be worth about W3 trillion (US$2.4 billion) by 2015.