The Advantages of Having An LED TV

• Contrast
One of the biggest issues with an LCD TV is what is called the contrast ratio. Expressed such as "50,000:1", it simply states how much brighter the brightest white is as opposed to the blackest black. On cheaper TV's, the television never really goes black and the blacks almost look like a dark or even medium grey (one LCD TV was sold had a contrast ratio of just 600:1). LED TV's due to the usage of LED lights instead of fluorescent lights, have a much more vibrant picture, and the contrast ratio is in the millions, so an LED TV wins big on this one. 

• Refresh Rate
Refresh rates are usually given as the number in Hz, which is simply how many frames per second the TV can handle. Both LCD and LED TV's are available in 60, 120, or 240 Hz. the higher number is important for fast-motion sports such as hockey and soccer, so that the picture will be smooth and easier to follow the action of. however, there's really no winner here because both LED and LCD TV's have similar refresh rates. 

• Longevity
LED technology is still relatively new, in fact, until about 4 years ago, an LED TV was merely in the concept stages. However, LED lights have historically lasted for a long time, whereas fluorescent lights on an LED TV cause colour blurring and white spots over time. Someone who wants a longer lasting TV will probably love an LED TV. 

• Viewing Angles
How far off centre can you see the TV clearly? Well, first off, let it be known it depends on the glass that's in front of the screen. A higher quality TV, like a Samsung or a Sony, would have better glass and a better viewing angle, however, a lower quality TV made with aftermarket parts will naturally perform worse. Generally speaking, if you have an LED TV that has local dimming technology (which allows one area of the TV to be dimmed when necessary), the viewing angle will be much better. Edge Lit LED's have the worst viewing angles, however, so if it comes a choice, an LCD TV would be a better bet. 

• Colour Accuracy
You probably won't notice much of a difference with a white backlit LED TV versus an LCD. However, if the backlighted LED TV is coloured, it will have a very vivid colour scheme and will win hands down here. 
In conclusion, each of the TV's have their pros and cons. LED TV's will cost more because local dimming LED TV's are the newest technology so LCD TV's will be more economical, but the choice is up to you how you want to go about it. Make sure you know all the important figures and what size you're looking for, as LED TV's range from 26 to 80 inches, and LCD's generally range from 15 to about 65 inches.