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LCD (Liquid Crystal Display) is the type of TV. LED just refers to the type of light used for the backlighting. An LED TV is also LCD TV - pretty much all LCDs are LED backlit these days. The LED backlighting allows for more accurate lighting representations as the LEDs can be turned on/off individually to brighten or dim the backlight in specific areas of the picture. Older LCD TVs do not have this capability.
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