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White organic light‐emitting devices (WOLEDs) have advanced over the last twelve years to the extent that these devices are now being considered as efficient solid‐state lighting sources. Initially, WOLEDs were targeted towards display applications for use primarily as liquid‐crystal display backlights. Now, their power efficiencies have surpassed those of incandescent sources due to improvements in device architectures, synthesis of novel materials, and the incorporation of electrophosphorescent emitters. This review discusses the advantages and disadvantages of several WOLED architectures in terms of efficiency and color quality. Hindrances to their widespread acceptance as solid‐state lighting sources are also noted.