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We have demonstrated both theoretically and experimentally that a lozenge-shaped light-emitting diode (LED) enhances light extraction efficiency compared with a conventional rectangular LED. The total light output power of the lozenge-shaped LED on a transmitter optical can (TO-can)-type package shows an increase of 12% at an injection current of 20 mA when compared with that of a rectangular LED. Moreover, the series resistance and the forward voltage of the lozenge-shaped LED slightly decrease compared with those of the rectangular LED. The far-field emission pattern shows that the light escaping from the lozenge-shaped LED along the horizontal direction is larger than that from the rectangular LED.