Back-lit LED TVs include an array of LEDs arranged directly behind the LCD screen. The LEDs can be dimmed but not independently. Brighter pictures and more energy efficient than CCFL but not as thin as Edge-lit. (Sharp LE700 series are Back-lit LEDs.)
An important thing to note is that just because an LED is backlit does not mean there is an LED for each pixel. Actually, no such TV exists. In the case of the Sharp LE700, there is only a couple dozen LEDs behind the whole LCD screen. Usually, one LED is responsibly for lighting several thousands of pixels. Which means there is still room for improvement as LEDs get smaller and less expensive. The biggest thing to remember about LED TVs is that they offer a better picture than CCFL, they are more energy efficient (by up to 40%) and the are usually thinner.