IPS (In-Plane Switching) is a technology used for LCDs. It was designed to overcome the main limitations of normal TFTs TN-matrices: relatively slow response times, small viewing angles and low quality color reproduction.
The device has a display with three full subpixels per pixel, resulting in a sharp and crisp picture. Pixels in some displays (like AMOLED) share one subpixel to preserve space. This can result in a less crisp, slightly blurred image.