Earlier quoted context omitted.
I really hope it doesn't turn out to be fatal for them but I also hope it breaks the Samsung monopoly over Android and let brands like LG, HTC shine. OLED displays are so good they still sell themselves, and Samsung is the only handset maker that seems to be committed to the technology. I doubt this will change much.
What's so great about OLEDs? They consume much more energy and don't produce the most accurate colors.
OLED displays have a very wide color gamut. If you have source material that was tuned to it, there's really nothing like it. To get a similar gamut with LCD you need a quantum dot backlight. Samsung devices all have a screen mode where they constrain their gamut to sRGB for more accurate colors, though.
In terms of color accuracy, they've consistently been the best around, when set to limit their gamut to sRGB. This (http://www.displaymate.com/Galaxy_Note7_ShootOut_1.htm) site has test results for most recentish smartphones and tablets and declared the Note 7's display to be "the best performing Smartphone Display that we have ever tested." Every Samsung device with an OLED display released in the last few years has achieved this.
And of course the contrast ratio is much better than LCD. In terms of display quality, provided the phone can be set to sRGB mode, OLED is as good or better than LCD in every metric. And this doesn't even touch on all of the novel uses a display that uses no power when displaying black can be put to - for example, Samsung devices can typically display the time or notifications in white-on-black on the display persistently when the screen is otherwise 'off'. With OLED, only the pixels that are active are drawing power.
The only problem with OLED has been blue pixel decay. I have an OLED display in both my tablet and my phone and I'm a heavy user, and I haven't noticed any change in the 2 years I've owned them though.
Really, it's just a better technology. It's shameful that everyone has allowed Samsung to maintain a lock on it. I really wish I didn't have to buy Samsung devices to get this fantastic technology.