We demonstrate extremely stable and highly efficient red p-i-n-type organic light emitting diodes (OLEDs) based on an iridium-based electrophosphorescent dye in suitable host materials. The OLEDs reach lifetimes well above 1×107h at 100cd∕m2 initial luminance and reach at the same time a performance of 12.4% external quantum efficiency. This high lifetime is attributed to a combination of the low current density needed to reach a certain luminance and to the high stability of the materials against both charge carriers and excitons.