Quantum dot light-emitting diodes (QD-LEDs) are one of the most promising self-emissive displays in terms of light-emitting efficiency, wavelength tunability, and cost. Future applications using QD-LEDs can cover a range from a wide color gamut and large panel displays to augmented/virtual reality displays, wearable/flexible displays, automotive displays, and transparent displays, which demand extreme performance in terms of contrast ratio, viewing angle, response time, and power consumption. The efficiency and lifetime have been improved by tailoring the QD structures and optimizing the charge balance in charge transport layers, resulting in theoretical efficiency for unit devices. Currently, longevity and inkjet-printing fabrication of QD-LEDs are being tested for future commercialization. In this Review, we summarize significant progress in the development of QD-LEDs and describe their potential compared to other displays. Furthermore, the critical elements to determine the performance of QD-LEDs, such as emitters, hole/electron transport layers, and device structures, are discussed comprehensively, and the degradation mechanisms of the devices and the issues of the inkjet-printing process were also investigated.