LED is best in Video clarity, it does not give any shadings like LCD, and price also will low comparing LCD's.
Compared with LCD, LED is more expensive. But on the other hand, LED can save much more energy than LCD. So over the long term, you save more money while use LED. Moreover, LED is environmental-friendly.
The reason LED is better is that every minute section of your screen is governed ny an LED. LCDs are good but they only affect areas of the screen simultaneously, therefore giving you a slightly more blurred view on larger screens