wearable displays, and conceptual lighting panels. In addition, besides the excellent designs, a flexible OLED (FOLED) [7, has several other advantages, the displays and lighting panels are thinner, lighter, more cost effective, shatterproof, and durable compared to glass or silicon based OLEDs. They are impact resistance and less prone to break than glass. At present, both flexible displays and lighting panels are being mass produced (Samsung and LG on displays, LG and Konica Minolta on lighting). FOLEDs are becoming most promising and popular next-generation display technology in consumer electronics and lighting panels.In order to develop the FOLEDs and realize their practical application, many great efforts have been conducted. The key components of the FOLEDs are flexible substrate, bottom and top electrode, organic functional layers, encapsulation layer, and optional light extraction layers. Differed from conventional OLEDs on rigid glass or silicon substrate, FOLEDs are fabricated on flexible substrates. Up to now, metal foil, flexible glass, and plastic film have been commonly used as flexible substrates for FOLEDs. On the other hand, actual fabric materials, natural silk fibroin films, bacterial cellulose, and rubbery poly (urethane acrylate) have also been developed to achieve the requirements of wearable and stretchable displays. The electrode is also very important for FOLEDs. Compared with the top electrode, more research has been conducted on the bottom electrode because its surface roughness, conductivity, and transmittance for bottom emitting OLEDs play a key role in the performance of FOLEDs. As conventional indiumtin-oxide (ITO) is not suitable for flexible devices as it is brittle, many great alternatives such as thin metal film, conducting polymer, dielectric-metal-dielectric (DMD) multilayers, metal nanowires, graphene, carbon nanotubes (CNTs), and their compound have been studied. It should be mentioned that the performance of organic layers has almost no difference with rigid OLEDs because of their inherent excellent ductility and identical working mechanism. Moreover, for practical and commercial applications, stability and efficiency are two factors of crucial importance. As a consequence, the encapsulation technique and light extraction of FOLEDs are also two research hotspots in recent years. This review will summarize the key components, discuss the method of implementation, highlight the recent research progresses, and conclude the challenges and prospects of FOLEDs. demand for display technology in consumer electronics and lighting panels increases, thin, light, high-quality, and more cost-effective light-emitting devices are required. Organic light-emitting devices (OLEDs), satisfying the criteria exactly, have been considered the most promising next-generation display and lighting technique. In particular, an OLED based on flexible substrate enables the device to be applied to curved displays, electronic newspapers, wearable displays, and conceptual lighting panels, has been alwa...