Latency

From a mobile phone perspective, latency generally refers to the time that passes between when an action is requested and when it actually occurs. Examples of such are network latency and PTT latency.

LCD (Liquid Crystal Display)

A liquid crystal display, typically referred to as an LCD, is a flat display technology that uses electrodes and polarizing filters to selectively enable or disable pixels of light to pass from a backlight or reflective backing to the eyes of the viewer. Color displays have 3 such sites per pixel, each with a red, green, or blue color filter, which allows the display to create any number of colors. Most LCD displays used with mobile phones are of the active matrix variety, but some older displays still make use of passive matrix designs. In the future, LCD technology might be displaced in mobile devices by OLED display technology.