diff --git a/.github/workflows/build_and_run_examples.yml b/.github/workflows/build_and_run_examples.yml
index 11f1f7b5bd..be8a28d352 100644
--- a/.github/workflows/build_and_run_examples.yml
+++ b/.github/workflows/build_and_run_examples.yml
@@ -61,7 +61,7 @@ jobs:
       - name: Install Python packages
         env:
           PIP_EXTRA_INDEX_URL: "https://dl.espressif.com/pypi/"
-        run: pip install --only-binary cryptography pytest-embedded pytest-embedded-serial-esp pytest-embedded-idf
+        run: pip install --prefer-binary cryptography pytest-embedded pytest-embedded-serial-esp pytest-embedded-idf
       - name: Run examples
         run: pytest --target=${{ matrix.idf_target }} -m generic --build-dir=build_${{ matrix.idf_target }} --ignore=usb --ignore=test_app
 
diff --git a/esp_lcd_qemu_rgb/README.md b/esp_lcd_qemu_rgb/README.md
index 1514ee24e5..bd714ffbec 100644
--- a/esp_lcd_qemu_rgb/README.md
+++ b/esp_lcd_qemu_rgb/README.md
@@ -4,4 +4,4 @@ This component presents an interface for the virtual QEMU RGB panel, implemented
 
 This virtual RGB panel that can be used to display graphical interfaces. This panel also includes a dedicated frame buffer, absent in real hardware and independent from the internal RAM, that allows user program to populate the pixels in.
 
-**Please note** that the virtual RGB panel currently only supports ARGB8888 (32-bit) color mode.
+**Please note** that the virtual RGB panel currently supports only two color modes: ARGB8888 (32-bit) and RGB565 (16-bit).
diff --git a/esp_lcd_qemu_rgb/examples/lcd_qemu_rgb_panel/main/lcd_qemu_rgb_panel_main.c b/esp_lcd_qemu_rgb/examples/lcd_qemu_rgb_panel/main/lcd_qemu_rgb_panel_main.c
index 6319c2dd43..06f1ce4512 100644
--- a/esp_lcd_qemu_rgb/examples/lcd_qemu_rgb_panel/main/lcd_qemu_rgb_panel_main.c
+++ b/esp_lcd_qemu_rgb/examples/lcd_qemu_rgb_panel/main/lcd_qemu_rgb_panel_main.c
@@ -21,10 +21,14 @@
 static const char *TAG = "example";
 
 /**
- * Only 32-bit colors are currently supported by QEMU RGB Panel
+ * 32-bit and 16-bit colors are currently supported by QEMU RGB Panel
  */
-#if !CONFIG_LV_COLOR_DEPTH_32
-#error "QEMU RGB Panel only support 32-bit colors, please enable LV_COLOR_DEPTH_32"
+#if CONFIG_LV_COLOR_DEPTH_32
+#define CURRENT_COLOR_DEPTH RGB_QEMU_BPP_32
+#elif CONFIG_LV_COLOR_DEPTH_16
+#define CURRENT_COLOR_DEPTH RGB_QEMU_BPP_16
+#else
+#error "QEMU RGB Panel only supports 32-bit and 16-bit colors, please enable LV_COLOR_DEPTH_32 or LV_COLOR_DEPTH_16"
 #endif
 
 // The pixel number in horizontal and vertical
@@ -120,7 +124,8 @@ void app_main(void)
     esp_lcd_panel_handle_t panel_handle = NULL;
     esp_lcd_rgb_qemu_config_t panel_config = {
         .width = EXAMPLE_LCD_H_RES,
-        .height = EXAMPLE_LCD_V_RES
+        .height = EXAMPLE_LCD_V_RES,
+        .bpp = CURRENT_COLOR_DEPTH,
     };
     ESP_ERROR_CHECK(esp_lcd_new_rgb_qemu(&panel_config, &panel_handle));
 
diff --git a/esp_lcd_qemu_rgb/idf_component.yml b/esp_lcd_qemu_rgb/idf_component.yml
index befe84b554..2abc8c7e86 100644
--- a/esp_lcd_qemu_rgb/idf_component.yml
+++ b/esp_lcd_qemu_rgb/idf_component.yml
@@ -1,4 +1,4 @@
-version: "1.0.0"
+version: "1.0.1"
 description: Driver for the virtual QEMU RGB panel
 url: https://github.com/espressif/idf-extra-components/tree/master/esp_lcd_qemu_rgb
 repository: https://github.com/espressif/idf-extra-components.git
diff --git a/esp_lcd_qemu_rgb/interface/esp_lcd_qemu_rgb.h b/esp_lcd_qemu_rgb/interface/esp_lcd_qemu_rgb.h
index 9f1f44ac96..9b9c4ffa9b 100644
--- a/esp_lcd_qemu_rgb/interface/esp_lcd_qemu_rgb.h
+++ b/esp_lcd_qemu_rgb/interface/esp_lcd_qemu_rgb.h
@@ -13,12 +13,17 @@
 extern "C" {
 #endif
 
+typedef enum {
+    RGB_QEMU_BPP_32 = 32,
+    RGB_QEMU_BPP_16 = 16,
+} esp_lcd_rgb_qemu_bpp_t;
 /**
  * @brief QEMU RGB panel configuration structure
  */
 typedef struct {
     uint32_t width;             /*!< Width of the graphical window in pixels */
     uint32_t height;            /*!< Height of the graphical window in pixels */
+    esp_lcd_rgb_qemu_bpp_t bpp;                /*!< BPP - bit per pixel*/
 } esp_lcd_rgb_qemu_config_t;
 
 /**
diff --git a/esp_lcd_qemu_rgb/src/esp_lcd_qemu_rgb.c b/esp_lcd_qemu_rgb/src/esp_lcd_qemu_rgb.c
index 428f34d12c..402bb47f66 100644
--- a/esp_lcd_qemu_rgb/src/esp_lcd_qemu_rgb.c
+++ b/esp_lcd_qemu_rgb/src/esp_lcd_qemu_rgb.c
@@ -58,9 +58,10 @@ esp_err_t esp_lcd_new_rgb_qemu(const esp_lcd_rgb_qemu_config_t *rgb_config, esp_
     rgb_panel = calloc(1, sizeof(esp_rgb_qemu_t));
     ESP_GOTO_ON_FALSE(rgb_panel, ESP_ERR_NO_MEM, err, TAG, "no mem for rgb qemu panel");
 
-    /* Resize the window */
+    /* Resize the window and setup bpp*/
     s_rgb_dev->size.height = rgb_config->height;
     s_rgb_dev->size.width = rgb_config->width;
+    s_rgb_dev->bpp = rgb_config->bpp ? rgb_config->bpp : RGB_QEMU_BPP_32;
     /* If the configured size is bigger than authorized, the hardware will arrange it.
      * So, read back the configured size */
     rgb_panel->height = rgb_config->height;
diff --git a/esp_lcd_qemu_rgb/src/esp_lcd_qemu_rgb_struct.h b/esp_lcd_qemu_rgb/src/esp_lcd_qemu_rgb_struct.h
index 24e5f35e34..0389465270 100644
--- a/esp_lcd_qemu_rgb/src/esp_lcd_qemu_rgb_struct.h
+++ b/esp_lcd_qemu_rgb/src/esp_lcd_qemu_rgb_struct.h
@@ -50,6 +50,7 @@ typedef volatile struct rgb_qemu_dev_s {
         };
         uint32_t val;
     } update_st;
+    uint32_t bpp;
 } rgb_qemu_dev_t;
 
 #ifdef __cplusplus