That's it, the technology is still LCD, but have the LED as backlights. Calling them "LED TVs" is purely marketing.
My TVs are so old, the back lighting is Fluorescent! No local dimming, obviously.
To put this into perspective, my 52" Sammy LCD was ~$2300 new, and I was one of the first on the "big flat screen" trend, when 52" was considered big, and $2300 was considered a good price for it!
And, my 26" I bought used for $600, which was half of the MSRP from about 1 year earlier!