China-based Hisense announced a new technology that the company says will enable its LCDs to compete with OLEDs in high contrast. The so-called ULED XD panels use two LCDs panels, on on top of the other. The inner LCD is a monochrome (geyscale) FHD LCD that is used to block the light on low brightness images, and on top of it is the usual 4K full-color LCD.
This is basically a way to achieve a high number of 'local dimming' zones for an LCD display (over 2 million such zones, in fact). The TV itself is very bright (over 2,900 nits) and reportedly offers a great image quality and an almost perfect contrast. HiSense it will release its first ULED XD TVs later this year in China. Apparently SkyWorth is also demonstrating a similar technology at CES.
HiSense recently announced its first OLED TV, the Series X (released in November 2018 in Australia).