To begin.. I would like to explain a bit more in detail
Our regular LCDs are mostly of
TFT LCD (thin film transistor liquid crystal display). An LED-backlit LCD display has LED backlighting instead of the cold cathode fluorescent (CCFL) backlighting used by most other LCDs. though not a
TRUE LED some manufacturers smartly branded them LED TVs If you google up and a bit of Wiki too you ll read that the govts have allowed this misnomer of sorts but ordered the manufacturers to explain in the advertising .. which is the '*' asterisk that are so conveniently disguised as extra information.
for your reference I ve also searched a bit and thanks to your Qs learnt a bit more and there are 3 types of so called LED TVs
- White-edge LEDs around the rim of the screen, using a special diffusion panel to spread the light evenly behind the screen (the most common use)
- LED array behind the screen, whose brightness is not controlled individually
- Dynamic local dimming array of LEDs, controlled individually (or in clusters) to achieve a modulated backlight pattern
The current LEDs are masked LCDs. Unlike plasma and OLED(True LEDs in my consideration), which are emissive technologies where each pixel is its own discrete light source, LCD is a transmissive technology where each pixel has to be illuminated from behind, or backlit. Ergo.. the
True technologies out there are.. CRTs (Cathode Ray Tubes) our very own dear ol Tube TVs.. the best of the best in performances as far as I ve seen (Cant really talk about big sized OLEDs ) The Plasmas & of course the currently up comming OLEDs 
hyeah

frikkin expensive). hope this clears out some of your doubts atleast...