Future iPhones Expected to Adopt Apple Watch's Low-Power LTPO Display Technology
Apple plans to use a low-power backplane technology called LTPO for future iPhones, according to Korean website The Elec. The backplane is responsible for turning individual pixels on and off on the display.

From the report:
Apple, meanwhile, is moving to more widely apply LTPO panels to its iPhones. This means it needs to find ways to work together with Samsung Display, which is holding its own in terms of both technological prowess and production capacity in the small and mid-sized OLED sector.
LTPO, or low-temperature polycrystalline oxide, has an Oxide TFT structure that uses up to 15 percent less power than LTPS, or low-temperature polysilicon, the backplane technology that Apple currently uses. Naturally, that could contribute to longer battery life on future iPhones.
Apple Watch Series 4 and Series 5 models already feature LTPO displays. Apple's website says the technology enables Series 5 models to have the same up-to-18-hour battery life as Series 4 models despite having an always-on display:
The low temperature poly-silicon and oxide display features a reinvented pixel architecture that lets the screen refresh rate dip from 60Hz to a power-sipping 1Hz when the watch is inactive. A new low-power driver, ultra-efficient power management, and a new ambient light sensor work together so the display can stay always on with up to 18 hours of battery life.
Apple's transition to OLED started small with the original Apple Watch in 2015, followed by the iPhone X in 2017, so it would not be surprising if LTPO expands from the Watch to the iPhone as early as next year.
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Edit: I like 'always on' on my Series 5 and accept it might drain the power slightly faster. Not a real life problem for me. But when I fly overseas I turn it off to get the last bit of power out.