Colloidal semiconductor nanocrystals are promising luminophores for creating a new generation of electroluminescence devices. Research on semiconductor nanocrystal based light-emitting diodes (LEDs) has made remarkable advances in just one decade: the external quantum efficiency has improved by over two orders of magnitude and highly saturated color emission is now the norm. Although the device efficiencies are still more than an order of magnitude lower than those of the purely organic LEDs there are potential advantages associated with nanocrystal-based devices, such as a spectrally pure emission color, which will certainly merit future research. Further developments of nanocrystal-based LEDs will be improving material stability, understanding and controlling chemical and physical phenomena at the interfaces, and optimizing charge injection and charge transport.