Researchers from the University of Utah developed a new kind of Spintronics OLED device known as a spin-polarized OLED. This is a light emitting bipolar spin valve which uses a magnetic field to align the spin of the electrons and the electron-holes in the organic materials - causing it to support more current and be brighter.
The researchers hope that in the future it will be possible to control the light color using magnets. This technology also promises to turn OLEDs brighter. It's still about five years away from commercialization - mainly because it requires a very cold (-28F, -33C) temperature currently.