The 27-inch PG27AQWP-W supports 540Hz refresh rate, or 720Hz at 720p resolution, while the 27-inch XG27AQWMG features 280Hz. There is also a third monitor.
LG has just launched the first monitor built on 4th generation WOLED, also known as RGB Tandem OLED, while Samsung has launched the first 500Hz QD-OLED monitor.
Asus will launch not one but two monitors with RGB Tandem OLED, the company announced at this week's Gamescom. The XG27AQWMG uses the same panel as LG's while the PG27AQWP-W is the first monitor to use the new 540/720Hz OLED panel teased earlier this year.
Improved color, brightness, lifespan
Asus said that both monitors feature the 'ROG TrueBlack Glossy' coating that preserves deep blacks although with some reflections. They are also both VESA DisplayHDR 500 True Black certified.

4th gen OLED has more emissive layers
The new RGB Tandem OLED panel delivers higher brightness, an expanded color gamut due to the four-layer OLED structure, and significantly longer lifespan, according to the company.
- "Asus Republic of Gamers today announced the new Rog Swift OLED PG27AQWP-W and Rog Strix OLED XG27AQWMG monitors featuring Tandem OLED technology that offers 15% higher peak brightness, 25% wider color volume, and a 60% longer lifespan versus previous-generation WOLED monitors," the company announced.
RGB Tandem OLED, which is also found in some of the latest TVs, is panel maker LG Display's answer to the latest generation of QD-OLED panels. The technology will gradually be applied to more monitor panels so expect even more monitors later this year and next year.

The first two Asus monitors with RGB Tandem OLED
Up to 720Hz OLED
The 27-inch PG27AQWP-W is the world's fastest OLED monitor – and possibly the fastest of any kind – with its 540Hz refresh rate at native 1440p resolution, but it can go even further if you can accept 720p resolution. The dual mode allows it to operate at 720Hz at 720p.
Meanwhile, the 27-inch XG27AQWMG also features 1440p resolution but is "limited" to 280Hz refresh rate, which likely means that it will be cheaper – pricing was not announced.
PG27AQWP-W features HDMI 2.1 and DisplayPort 2.1a (80Gbps) while XG27AQWMG features HDMI 2.1 and DisplayPort 1.4 (with DSC). The company added that a presence sensor automatically switches off the monitors when the user is not around.
New glossy WOLED
Asus also announced a third monitor at Gamescom. The 27-inch XG27AQDMG Gen 2 is based on the previous-generation WOLED panel but it now has the same 'TrueBlack Glossy' coating.
It too features the presence sensor, HDMI 2.1 and DisplayPort 1.4 (with DSC).

Asus' illustration of its TrueBlack Glossy coating