Craig Hockenberry explains the differences between LCD and OLED displays. OLED is the display technology that is expected to make its debut in Apple’s product lineup with the Apple Watch:

One of my first impressions of the WATCH user interface was that it used a lot of black. This makes the face of the device feel more expansive because you can’t see the edges. But more importantly, those black pixels are saving power and extending the life of the display. It’s rare that engineering and design goals can align so perfectly.

And from what we’ve seen so far of the watch, that black is really really black. We’ve become accustomed to blacks on LCD displays that aren’t really dark: that’s because the crystals that are blocking light let a small amount pass through. Total darkness lets the edgeless illusion work.