OLED is not an LCD (yes LCD's are LED-edge lit). OLED displays are much thinner than LCD's and consumes less power. The monitor you linked is really expensive though, there are great OLED TV's out there made by LG. Higher end phones currently use AMOLED screens also.
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Response time (pixel changing color....):
It's currently being marketed infront of every single gaming monitor, because lower is better... Wrong. On a 60 Hz display, anything below 16 ms is fast enough to not produce any ghosting. It's important to note that a 60 Hz display is LIMITED to 16.67 ms. Which means anything lower is useless anyways. Older displays this number could be way higher than 16.67, and not cause any major ghosting. So build quality is a huge factor. A cheap TN marketed at a low response time, can in reality have a much higher response time than an IPS display -- OUTSIDE of whatever manufacturers test lab.
1 / 60 = 0.0166667 ~16.67
What this means is that even what used to be very slow = IPS-LCD's, are no longer slow. Or expensive to for that matter, and definitely more common. Modern IPS displays are already down to 5 ms of pixel response time, while "gaming" monitors are down to 1 ms. However, in reality it's not 1 ms, because it's measured in Grey to Grey. This means that it's shifting from grey to grey, and whatever is fastest the manufacturer is going to market, no matter how inaccurate it is.
We used to measure this in Black to white to Black, which is far more accurate!
Before moving on, let me explain what ghosting is. Ghosting is when a monitors response time is so slow (or LIMITED by it's refresh rate) that during fast motion/movement on screen, you will see a ghost image of something that moved fast in the previous frame. Ghosting is often mistaken by Motion Blur, which is also an artifact, but can be found in game settings...
Slower than:
[60 Hz] 16.67 ms
[120 Hz] 8.3 ms
[144 Hz] 6.9 ms
Will create major ghosting -- non-existent in the modern market, including in IPS-LCD's.
As you can see, that is what a monitor at their refresh rates are capable of. Higher the refresh rate, the lower (faster) response time is required. This is what is going to get rid of the super old artifact known as ghosting, sure won't find that in the modern market though...
That is what the 1 ms, 5 ms, 10 ms, 20 ms number infront of a monitor is referring to, not input delay... Currently, in the modern market -- IPS and TN displays are equal in terms of input delay (a spec not a single manufacturer is ever going to list, anywhere).
Respone time = Advertised everywhere
Input delay = Advertised nowhere, ever
My best explanation on how this affect consumers...