Some people are saying that flexible electronic paper technology is the wave of the future and these flexible displays will one day replace paper altogether. LG-Philips LCD seems to agree, because they have once again pushed the envelope and they are set to unveil their most advanced prototype to date at CES. The new electronic paper measures 14.3-inches across the diagonal and it is capble of displaying over 16 million colors.

Naturally, the refresh rate isn’t as good as a conventional LCD, but you can see how the exceptional color reproduction and 180-degree viewing angles can help to replace traditional paper and books at some point in the future. After bending the display, it “easily recovers its original shape… because the product uses a substrate, which arranges thin-film transistors on metal foil,” said LPL chip technology officer Chung In-jae.

The Amazon Kindle seems to be heading in this direction, but this flexible full-color display seems a lot more advanced. Market analysts are estimating that the e-paper market will amount to “over $12 billion in 2007.”