The 56″ DLP unit uses LEDs as a light source rather than a conventional UHP lamp. Conventional UHP lamps burn out in 4-5 years whereas Samsung is stating that its LEDs will last a conservative 20,000 hours; most LEDs are rated much longer at around 50,000 hours. There will be 18 LED ships with six reds, six blues and six greens. With the LEDs, the company is stating that the color gamut is improved and the color wheel has been eliminated removing a condition called “the rainbow effect” that has irritated some users. The MSRP of Samsung’s HL-S5679W is about $4000 and has a Full HD (1080p) resolution making it rather future-proof. The 16:9 aspect ratio 56″ DLP unit with HDMI input with an unidirectional CableCard slot and an ATSC tuner is slated to ship around September.

1080p with LED is really the future of TV technology and would be my choice of TV, though the $4000 price is a bit high.

Update: 2006.07.31
The LED technology used in its 56″ DLP is provided by Luminus Devices, a three-year old startup based in Woburn, Mass. Luminus wants to replace all the lamps powering rear-projection TVs (RPTVs) with LEDs in 2008. Luminus’ PhlatLight technology provides better brightness than other competitors such as Cree, OSRAM, and Philips Lumileds.
Source: Twice