Various techniques are provided for implementing a variable control for a lighting device, such as a flashlight, that uses a variable inductor. The lighting device may include a tail cap, a battery terminal, and a variable inductor mounted in the tail cap and electrically connected in series with the battery terminal. The lighting device may also include a user operable switch configured to selectively bypass the variable inductor. The variable inductor may include, for example, a magnetic coil comprising a wire coil and a core. The variable inductor may also include a ring comprised of ferrous material and having a substantially elliptical inner circumfery and surrounding the magnetic coil, wherein the ring is adapted to be rotated relative to the magnetic coil in response to user actuation of a rotatable user control.