As listed above, the LED's are for positional tracking. Oculus added a lot more because it reduces error and/or increases tracking speed.
The thing I don't understand about all the entrants into the VR headset market is, as far as I am aware, Oculus has quite a few patents for their system that solve some of the very difficult problems that have plagued VR systems for years. And since, presumably, Oculus isn't going to be licensing those patents, it would seem their competition is going to be up against a major hurdle to overcome those problems in other ways.
Which I think mirrors what I've been hearing from people who have used the multiple systems. Samsung has one, Sony has one, HTC/Steam(Valve?) now has one... and the people who have used them all, from what I have seen, all rank Oculus as head and shoulders above the rest.