"LG has always been an OEM which introduced new technology in their phones. It will launch the LG G8 with a sound emitting display. Last year at CES, LG launched a wallpaper TV which used this technology. It has taken almost a year to get this to a smartphone. Vivo showcased the same technology in their new NEX smartphone, although it was just a technology showcase as the device was a beta product. I think it's the same LG technology, not sure though.
The implications of this tech:
1. This will increase the IP rating of the phones as it will be sealed tighter and there will be fewer holes.
2. This will enable full-screen displays as there would be no need for an earpiece.
3. If there is no notch, you can use the phone upside down!
Apart from this, introduction of TOF sensor for the front camera will enable AR features. But this also means there will be a notch!" – Parv Sharma