LG makes screen from water and oil

In the pursuit of a cheap flexible display, LG Philips have come up with a screen that's made with the help of oil and water.

The patent they've filed has the following, almost impenetrable, abstract:

A display is disclosed, which can be fabricated without a high-temperature process, and also realize color images, the display including a reflective electrode formed on a flexible substrate; a transparent insulation layer having a predetermined color formed on a surface of the flexible substrate including the reflective electrode; an opposite substrate formed in opposition to the flexible substrate; an opposite electrode and a black matrix formed on an inner surface of the opposite substrate; and an electrolytic layer and a nonelectrolytic layer formed between the flexible substrate and the opposite substrate, where the electrolytic layer is transparent, and the nonelectrolytic layer is nontransparent.

Thank God Engadget are on hand to translate this gibberish - their coverage manages to render that readable even to me.