We distinctly reveal the difference in the exciton generation processes in phosphorescent organic light-emitting devices with an exciplex-type co-host and a single host. Excitons in the co-host consisting of 4,4,4-tris(N-carbazolyl)-triphenylamine and 1,3,5-tris(N-phenylbenzimidazol-2-yl)benzene are created via efficient energy transfer from the exciplex to the phosphorescent dopant. In contrast, excitons in the single host of 4,4,4-tris(N-carbazolyl)-triphenylamine are formed by the combination of holes and electrons trapped by the phosphorescent dopants. The optimized device utilizing the co-host system exhibits highly superior performance relative to the single-host device. The maximum external quantum efficiency and maximum luminance are 14.88% and
90,700
c
d
/
m
2
for the co-host device, being 1.6 times and 3.6 times the maximum external efficiency and maximum luminance for the single-host device, respectively. Significantly, the critical current density, evaluating the device efficiency roll-off characteristic, is as high as
327.8
m
A
/
c
m
2
, which is highly superior to
120.8
m
A
/
c
m
2
for the single-host device, indicating the notable alleviation in efficiency roll-off for the co-host device. The significant improvement in device performance is attributed to eliminating the exciton quenching resulting from the captured holes and the efficient energy transfer from the exciplex-type co-host to the phosphorescent emitter incurred by the reverse intersystem crossing process.
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