We have fabricated white organic light-emitting diodes (OLEDs) by co-doping of red and blue phosphorescent guest emitters into the single host layer. Tris(2-phenyl-1-quinoline) iridium(III) [$Ir(phq)_3$] and iridium(III)bis[(4,6-di-fluorophenyl)-pyridinato-$N,C^{2^{prime}}$]picolinate (FIrpic) were used as red and blue dopants, respectively. The effects of dopant concentration on the emission, carrier conduction and external quantum efficiency characteristics of the devices were investigated. The emissions on the guest emitters were attributed to the energy transfer to the guest emitters and direct excitation by trapping of the carriers on the guest molecules. The white OLED with 5% FIrpic and 2% $Ir(phq)_3$ exhibited a maximum external quantum efficiency of 19.9% and a maximum current efficiency of 45.2 cd/A.