The former stands for Active Matrix Organic Light-Emitting Diode, while the latter means In-Plane Switching Liquid Crystal Display. All of this hasn’t gone unnoticed by the marketing people, which means that plain old AMOLED or regular IPS LCD aren’t the terms used in the marketing fluff.
IPS LCD is stand for In-Plane Switching Liquid Crystal Display. IPS LCD improves on the venerable (Thin Film Transistor) LCD technology. The mighty iPhone uses IPS LCD & from the manufacturers' point of view it's cheaper to produce, which is a bonus.
LCD (liquid crystal display) is the technology used for displays in notebook and other smaller computers. Like light-emitting diode and gas-plasma technologies, LCDs allow displays to be much thinner than cathode ray tube technology.
An organic light-emitting diode (OLED) is a light-emitting diode (LED) in which the emissive electroluminescent layer is a film of organic compound that emits light in response to an electric current.