Walton makes (manufactures mostly from scratch) refrigerators (even smart IoT refrigerators), Aircons, LED-screen TVs (LCD-screen is older technology), LED Bulbs, Sealed Lead Acid (SLA) Batteries for inverter lamps and solar installations, Domestic Switchgear, Fans and assembles other small home electrics (kitchen and household blenders, friers, irons etc.) from local and Chinese components.
No company I know (even brand-name companies making OEM TVs for US market) manufactures SMD components used in TV Boards. Neither does Walton. But they do design and make their own boards and place SMDs using pick-and-place machines and wave-soldering machines.
I doubt they make their own LED screens AFAIK. LED screens need very sophisticated clean rooms and they haven't invested in it yet - most probably because buying overseas is probably cheaper for their current volume.
LCD stands for “liquid crystal display” and technically, both LED and LCD TVs are liquid crystal displays. The basic technology is the same in that both television types have two layers of polarized glass through which the liquid crystals both block and pass light. So really, LED TVs are a subset of LCD TVs.
LED, which stands for “light emitting diodes,” differs from general LCD TVs in that LCDs use fluorescent lights while LEDs use those light emitting diodes. Also, the placement of the lights on an LED TV can differ. The fluorescent lights in an LCD TV are always behind the screen. On an LED TV, the light emitting diodes can be placed either behind the screen or around its edges. The difference in lights and in lighting placement has generally meant that LED TVs can be thinner than LCDs, although this is starting to change. It has also meant that LED TVs run with greater energy efficiency and can provide a clearer, better picture than the general LCD TVs.