Organic field-effect transistors (FETs) are currently the focus of significant academic research and industrial development interest, as they potentially offer unique advantages over their inorganic counterparts in terms of cost reductions, compatibility with low-temperature and printing-based manufacturing, and potentially even performance. The first generation of products incorporating organic FETs is presently being introduced to the market. This article provides an overview of strategies for achieving high field-effect mobilities in solution-processed organic semiconductor films. We provide an assessment of materials challenges to meet performance and reliability requirements for a range of display and circuit applications and present an overview of state-of-the-art application demonstrations in active-matrix addressing of flexible eletrophoretic, organic light-emitting diode, and liquid-crystal displays, as well as radio-frequency identification tagging. We discuss how the unique functional properties of organic semiconductors, which allow comparatively easy integration of information processing, information storage, light emission, and light detection functions, might enable multifunctional applications that are not easy to create with other material systems.