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IPS in plane switching. It’s nothing new, but marketing departments have recently discovered it, so it has become a buzzword. Basically IPS is a technology first brought to market by Hitachi in 1996. It’s a method of altering the direction of the pixels so that viewing angles and color reproduction accuracy are improved.
Here is a link to a surprisingly interesting article about LCD displays in general as well as IPS in particular. http://www.slrlounge.com/what-is-an-ips-monitor-understanding-ips-displays/