A light emitting diode includes a base with a recess and a housing mounted above the base. A conductive plate is mounted in the recess with a red chip, a green chip, and two blue chips disposed thereon, all of which being enclosed by the housing. A first pin has a first contact electrically connected to the red chip and a second contact extending downward and out of the base. A second pin has a first contact electrically connected to the green chip and a second contact extending downward and out of the base. A third pin has a first contact electrically connected to the blue chips and a second contact extending downward and out of the base. A common cathode pin has a first contact electrically connected to the conductive plate and a second contact extending downward and out of the base. Different intensities of light of the three primary colors emitted by the chips result in any desired colored light. A bottom surface and a peripheral wall of the recess are covered by a scattering agent, providing a complete mixing of light emitted by the chips.