What will you be using your TV for?
The "LED" is still 95% the same as LCD and is actually called "LED-backlit LCD" - blame Samsung for the marketing gimmick hype in calling it LED. Basically only the edges are lit by LED. The biggest difference you will notice is that LED-backlit LCDs are slimmer in size, and your electricity bill will be negligibly cheaper.
At the lower end of the market where you are looking, picture quality will be very similar to no difference at all once you play HD stuff, especially because both sets are 60Hz and probably similarly-specced otherwise. The "branded" sets are usually trusted for displaying SD content better, like normal non-HD TV channels, ripped movies/series etc. because they have better image-processing engines. It is said that LED-backlit LCDs are able to produce deeper blacks, but under normal viewing conditions where there is some lighting, I doubt this.
I have heard a few good reports of Hisense with comments like "leaders of the lower end market" and "good for SD TV", but I have my doubts as with any "non-branded" brand, and people often need to justify their purchases. Best for you to do is to look at the sets side by side and even fiddle with the settings to see which one is better.
The EX400 is trusted though so it would probably be the better choice. More popular is the Samsung LA40C530 which I'd recommend, it also has a USB port that plays HD movies from flash drives/portable HDDs.