LEDs (light emitting diodes) emit light when operated in a forward biased direction. They are made of a PN junction of n-type and p-type semiconductors. When forward biased, electrons in the n-side are excited across the junction and combine with holes in the p-side, emitting photons. LEDs convert electrical energy directly to light and are used as indicator lights and in various applications like mobile phones, cameras, displays due to benefits like energy savings and durability. The document discusses the working, types, applications and benefits of LEDs.