LG has announced the world’s largest OLED display at 55 inch, marking that we are much closer to getting mass produced OLED displays.

The new TV features a ‘wider’ color gamut than LCD screens and is impossibly thin — only 5mm. Additionally, it can have amazing response times that can skirt 0.01 millisecond and refresh rates of 100,000hz as a result. It has a response time of 2-8 milliseconds and hence are capable of refresh rates of about 200Hz.

OLED’s also have better contrast. LG’s 55inch behemoth has a contrast ratio of 100,000:1. They are also more power efficient because OLED elements don’t consume power or produce light when they are off.

LG plans to display this TV at the upcoming CES2012 technology show at Las Vegas.