LED chip technology is evolving all the time and from the early days of the first generation DIP chip with its inherent heat managment problems, LED chips have come a long way. One of the new generation of chips is the Multi or integrated Chip known as MCOB (Multi Chip OnBoard) which comprises on many small-chips integrated into one largesingle chip. These are used widely now in floodlights and High baylights. They are cheaper to assemble than multiple single chips and so make products like high bay and floodlight, much more affordable than the 1 watt multiple chips.As with all LED products however, the drivers and thermal management are the key to longevity.
DIP Chips---the first generation SMD Chips---the second generation
MCOB Chips---the third generation
MCOB is also finding it's way into LED tubes and although there are very few competent manufacturers around doing this at the moment, the signs are that more will enter the market as the technology matures.