Unlike most 8-bit IPS/VA based panels, TN is only 6-bit and unable to display the full 16.7 million colors available in 24-bit true color. They can mimick the 16.7 million colors of 8-bit panels using a technique called dithering, but the results are unimpressive. TN panels have become popular with the average computer user because they are very inexpensive and currently dominate the LCD display market in availability.
In-Plane Switching (IPS) LCD @ Wikipedia
IPS LCD Revolution by Jeff Atwood (Coding Horror)
Not All LCD Panels Are Created Equal
Top 23- and 24-Inch Monitors @ PC World, # Jun 3, 2012
