Abstract: Halide perovskites have attracted considerable attention in next‐generation solid‐state lighting and displays owing to their outstanding optoelectronic properties. Over the past few years, perovskite light‐emitting diodes (LEDs) have achieved high external quantum efficiencies of >20% with active layers showing photoluminescence quantum efficiencies close to unity. This paper reviews the historical breakthroughs and recent advancements in perovskite LEDs with near‐infrared, red, green, and blue emission colors. Critical challenges, including device stability and material toxicity, are discussed. Finally, an outlook on white emission and lasing applications based on perovskite materials is presented.