What is a 10 bit panel?

It is defined as the variety of billions of colours your TV can display. A 10-bit panel is capable of 10-bit colour depth (1.07 billion colour palette) as opposed to an 8-bit colour depth (16.7 million colours.

For ex. an 8 bit panel is capable of producing  256 shades of one individual colour. As we have 3 primary colours so that would mean it is possible to have 256 X 256 X 256=16.7 million colours.

A 10 bit panel is capable of producing  1024 shades of one individual colour. As we have 3 primary colours so that would mean it is possible to have 1024 X 1024 X 1024=10.7 billion colours.