Integration of devices for their efficiency is considered to be the future goal of organic electronics. One such highly integrated device which combines the properties of both the organic field-effect transistor and organic light-emitting diodes are the organic light-emitting transistors (OLETs). These devices are exceedingly preferred for their enhanced properties/performance in terms of both mobility and luminescence. It becomes a singly stacked device enabling the integration of both a transistor and a light emitter in the same. Although it is a budding field of organic electronics, limited literature is available which keeps on increasing due to its high advantages in many applications. This review gives a brief knowledge of the OLETs being fabricated recently using different materials and the developments in device fabrications. The review looks through an organic chemist's perspective, digging into many ways through which an OLET material can be designed and characterized. It also looks through the developments made in the device architecture during the years enabling better performance through many different ways.