I asked myself the same question recently and started searching around for it. I was happy to find that Trusted Reviews has an in-detail article about it: HDR TV: What is it and should you care?
In an nutshell:
- There is a new standard for HRD TV standard/certification you should look for called: UHD Premium
- UHD Premium certification requires a great brightness range and better color reproduction (10 bit colors)
- UHD Premium come is two flavors in order to allow both LED LCD and OLED displays to get the certification:
- Standard 1: requires more maximum brightness (> 1,000 nits) but has demands are more relaxed for black (<0.05 nits) - targeting LCD panels
- Standard 2: maximum brightness requirements are lowered (>540 nits), but demands more from black colors (0.0005 nits) - targeting OLED panels
- You will need a compatible video source to enjoy this
- There are greater chances to get HDR content faster than 4K because it much easier to produce and distribute
Next thing will see are the HDR monitors.