A LED TV may also be a full HD TV. The LED refers to the light emitting diode used as backlight of the LCD in place of the more traditional LCD backlight that looks like flourescent lights. LED is said to be more energy efficient than the LCD backlight they are replacing and one or two LEDs may go out (mapundi) with hardly noticeable effect on viewing. The same cannot be said of the traditional LCD backlighting which when even one goes out a big chunk of the screen will go dim.
Luma na tong thread but I think this is still relevant.
