Technically and LED TV “is” and LCD TV, the main difference is how they are lit up to produce the picture. Quoting Amazon: Though LED TVs have taken on a name of their own, they are not so different from LCD technology. When comparing LED vs. LCD TVs, the difference lies in how the screen is lit to produce a bright picture. Traditional LCDs are back-lit with standard fluorescent lights, whereas LEDs are back-lit using smaller and more energy-efficient LED lights.
If you’ve ever used an LED flashlight (or compared one to an ordinary flashlight), you can already make a good guess at the advantage of LED lighting: Your picture will be brighter and have better contrast. Additionally, LED TVs have deeper blacks than LCDs (important if you’re a movie buff), and the screens themselves are thinner and consume less power. In the battle of LCD vs. LED technology, LED TVs definitely come out on top.