if you are talking about [URL="https://www.google.co.th/search?q=e-paper+display&hl=en&client=firefox-a&hs=zuD&rls=org.mozilla:en-US:official&prmd=imvns&tbm=isch&tbo=u&source=univ&sa=X&ei=IieXUK_UAof5rQfOxoGICQ&ved=0CE0QsAQ&biw=1355&bih=751"]e-paper,[/URL] its problem is not the contrast (which is [URL="http://en.wikipedia.org/wiki/Electronic_paper#Electrowetting"]better than any[/URL] lcd/amoled stuff) or the colors (some of our LCD suppliers already do color e-paper and they showed us demos, looking brilliant) but the remanency. You can't "move it" so fast like lcd's, therefore is only suitable for "static stuff", like photoframes (changing once per minute or so) and not for video/moving images. The advantage is the energy efficiency, those things do not consume any power, except when you efectively CHANGE the image. That is, one second every minute or every few minutes, you supply power and change the image, then it need no energy to maintain it for ages, comparing with LCDs, they are THOUSANDS of times more power-efficient.
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