Usually, low power LED with rated current lower than 20mA, if higher current can be counted as high power LED. And recently most common used lower power LED is DIP and SMD. And they also have different types, here are the details:

1) DIP LED (Light emitting diode): We have called LAMP LED, DIP LED also includes many types:
By colloidal shape: 3mm, 4mm, 5mm, 8mm, 10mm, 12mm, square, oval, and there are also some special sharps;
By color: red, orange, yellow, green yellow, green, blue green, blue, pink, UV, white, infrared, etc.

DIP LED

2) SMD LED (Surface mount device): surface mount diodes or surface mount components are its name; SMD also has a variety of types:
By size: there are 2020, 3528, 3535, 5050, 0603, 0805, 1210, 5060, 1010 and so on. Generally, SMD are diamond-shaped, so its name is based on the size L * W, most SMD use inches for units, only a few are used millimeters, such as 1608 (1.6 * 0.8mm) and so on. The color and colloid are the similar to DIP LED, only the shape of the product is different.

SMD LED

Low power LED advantages:
It is with small size, good for lighting design with small space; and even color; also good for radiate heating.

Low power LED disadvantages:
Low brightness and light efficiency; high light attenuation; usually one lamp need several LED, poor stability.

Application range:
Usually used as back light source for TV, mobile phone, card light etc; and LED display also need thousands of lower power LED, some companies even used in LED lamps.