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Researchers from the University of California developed a new display based on silica-coated nanoscale iron oxide rods. Those rods align themselves when a magnetic field is applied and they diffract light into color. This display is very low power and offers great sunlight visibility. They released a short demo of the rods under magnetic influence:

This research is in early stages, but the researchers already patented the technology and licensed it to (an undisclosed) company to commercialize.