This paper proposes a flexible transparent organic light-emitting diode (OLED) which is notable due to its high electron injection and transmittance. Though graphene-based OLEDs are promising candidates for flexible displays due to the enormous merits offered, a significant decrease in its device efficiency was reported in comparison to the other conventional indium tin oxide-based OLEDs. The device illustrated enhances the performance of the graphene-based flexible OLEDs through balanced charge recombination. A theoretical analysis has been done through performing optical simulations. The structure of the graphene-based OLED is optimized through the employment of efficient cathode and electron injection layer materials to boost the electron injection into the device. With the aid of simulations, it was found that optimum results are obtained with aluminum zinc oxide (Al:ZnO) as the cathode and Al/LiF/Alq3 as the electron injection layer. The proposed structure exhibits high transmittance of 87.14% with a current efficiency of 61.17 cd/A, and external quantum efficiency (EQE) of 21.2% at 1000 cd/m2 for the bottom side. An evident improvement in the device performance with 32.9% increase in the current efficiency, and 45.2% increase in the EQE was observed.