Experimental OLED display power data for commercial smartphones is analyzed using a physics‐based power model. The power efficiency for white color in lumens per Watt (lm/W) is extracted by proper normalization of the measured emission power to display size and resolution. The red, green, and blue external quantum efficiencies (EQEs) that could reproduce the extracted white power efficiency are extracted. It is found that state‐of‐the‐art red, green, and blue OLEDs used in commercial products have EQEs of ~7%, ~ 10%, and ~7%, respectively. These numbers are well below the theoretical maximum for OLEDs, which is ~20–25%. Moreover, surveys of experimental EQEs for both organic and inorganic LEDs show that inorganic LEDs excel at blue and green colors, while organic LEDs excel at red in terms of EQE. These heuristics may be useful for directing resources to close the organic and inorganic efficiency gaps.