Color gamut
A color gamut is the range of colors that a device can reproduce or an encoding can represent. A wide-gamut display can reproduce colors outside a smaller gamut, but content and color management must also use that capability.
Gamut is different from bit depth, which describes the precision of color values, and from full or limited color range, which describes signal code levels. Increasing saturation does not expand a panel's physical gamut.
See Color space, Color profile and Apple's color-space explanation.