LEDs use pretty small voltages and so adding many in series can increase the voltage needed, and this means you don’t need as much current as a single big LED (or many in parallel) making the circuitry cheaper
also manufacturing plays a big role, as there is more chance of a failure happening in one big chip than in a smaller one, so production is more efficient, and then there’s the fact they only make light at the junction, so it would make a long line of light, not illuminate the whole thing, making it not very efficient at using space
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