OLED vs. LED: Which is the better TV technology?

OLED technology isn’t exactly new to the consumer electronics space anymore. Mobile phones have been using OLED screens in some form or another since 2001. But now that OLED televisions from LG are coming down in cost (with the promise of competition coming soon), people’s interest in OLED is beginning to tick up, and they have questions. What makes an OLED TV better than an LED or LCD TV? How is OLED superior? Are there any disadvantages to OLED? We’ve got answers.