Electronic paper, also called e-paper, is a display technology designed to mimic the appearance of ordinary ink on paper. Unlike a conventional flat panel display, which uses a backlight to illuminate its pixels, electronic paper reflects light like ordinary paper and is capable of holding text and images indefinitely without drawing electricity, while allowing the image to be changed later. Unlike traditional displays, e-paper can be crumpled or bent like traditional paper. One important feature needed is that the pixels be image stable, or bistable, so that the state of each pixel can be maintained without a constant supply of power.
Electronic paper was developed in order to overcome some of the limitations of computer monitors. For example, the backlighting of monitors is hard on the human eye, whereas electronic paper reflects light just like normal paper. It is easier to read at an angle than flat screen monitors. It is lightweight, durable, and highly flexible compared to other display technologies, though it is not as flexible as paper.
Predicted future applications include e-paper books capable of storing digital versions of many books, with only one book displayed on the pages at any one time. Likewise with e-paper magazines. Electronic posters and similar advertisements in shops and stores have already been demonstrated.
Electronic paper should not be confused with digital paper.
For more information in the e-paper technology, check this wiki
Fujitsu was the first to develop electronic paper that combines memory capability (allowing it to retain the displayed image without power) with color display and the flexibility of a bendable display.