The TV industry has nowadays been split up into the LCD vs. Plasma enthusiasts with arguments on both sides. Although each technology has its downsides and strong points one can see that when targeting a certain environment a particular TV technology is best suited.
The LED technology should first be taken into view since it is just an enhancement of LCD TVs. The Liquid Crystal Displays as they are called on their full name consist of a matrix of small crystals which when excited with the help of an electric current turn at a certain angle to produce colors. They produce better quality HD video output than Plasma and the ones LED backlit manage to achieve more natural coloring than the older but still widely sold simple LCD with fluorescent back lighting.
Moreover, the Plasma TVs is made out of cells which contain rare gases such as neon that when applied a certain amount of electricity to them light up producing a certain color. From this fact the black produced by this type of TVs is much better than the one from a LCD display although they have a big downside when creating white images and this is when the TV sucks most current. As to test a Plasma television before buying it one should always run a “all white” test with some sound on the background as to see if the extra current does not affect speaker output in any way which in normal situations should not happen.
From a quality point of view there is not much difference between products, for both tend to have the same life length which has been attested in standalone tests and by manufacturers. Color accuracy on the other hand depends on lighting as Plasma TVs have a more natural look in normal to low lighting rooms while LCD and LED displays offer better color richness in bright light situations. The big downside for LCD is on the viewing angle issue which for many is a definite choosing criteria as they have a room arrangement which implies higher viewing angles.
All in all, both these television building technologies are somewhat similar in terms of what they offer when compared to their downsides but if one has a certain arrangement which favors the use of LCD/LED or Plasma he/she should first turn to that type of TV before considering some other type.