LED vs LCD.

LCD TV vs LED TV

An LED TV uses less power, provides a brighter display with better contrast, a thinner panel, and lesser heat dissipation than a conventional LCD TV. This is because an LED TV uses light-emitting diodes for backlighting versus CCFLs used by conventional LCD TVs. The display of an LED TV is not an LED display, so a more technically correct name for it would be "LED-backlit LCD television".

There are 3 types of LED TVs based on their backlighting methods:

• Edge-LEDs (the most common) are positioned around the rim of the screen and use a special diffusion panel to spread the light evenly behind the screen.
• Dynamic RGB LEDs: This backlighting technique allows specific areas on the screen to be dimmed.
• Full-array LEDs where LEDs are arranged behind the screen but are incapable of dimming or brightening individually.

And here is a chart to make it easier. 

Comparison chart

	LCD TV User Rating (531): 3.34/5 1 2 3 4 5	LED TV User Rating (405): 3.87/5 1 2 3 4 5
Thickness	Minimum 1 inch	LED edge backlit LCD TVs are thinner than CCFL LCD TVs. Often less than 1 inch.
Power consumption	Require less power to operate compared to plasma, but more than OLED TVs	LED-lit LCD TVs consume lesser power around 70% compared to Plasma TVs.
Burn-in	Not an issue	Burn-in is very rare
Screen size	13 - 57 inches	All sizes
Life span	50,000 - 100, 000 hours	Around 100,000 hours
Cost	Much cheaper	More expensive
Viewing angle	Up to 165°, Picture suffers from the side	The brightness and color on LCD TVs shift noticeably over the screen and depending on viewing angle

Slim frame

Edge-LED backlighting technique allows an LCD TV to be extremely thin. LED televisions that are only 1 inch thick are also available.

Color

An LED TV offers more colors, especially ones that use RGB-LED backlighting.

Price

On average, LED TVs are priced higher than traditional LCD TVs that use CCFLs for backlighting.

Power Consumption

LED TVs use energy-efficient light emitting diodes (LED) for backlighting. These consume less power than cold cathode fluorescent lamps (CCFL) used in traditional LCD televisions. Power savings are typically 20-30%.

So next time You want to buy, you can make an informed decision.