Light-emitting diode (LED) chips have disordered arrangement and defects with characteristics of low contrast, for which traditional segmentation methods cannot classify surface defects effectively. In this paper, a chip segmentation method based on position pre-estimation and a modified Normalized Correlation Coefficient (NCC) matching algorithm, as well as feature enhancement methods are proposed. The position pre-estimation method is used to avoid the interference introduced by the disordered chip arrangement and the large missing area. By modifying the NCC algorithm, matching speed is improved by eight times compared to traditional NCC while matching result is not affected by brightness change. Furthermore, feature enhancement schemes with higher speed and accuracy were designed to identify low-contrast defects. The experimental results showed that the average accuracy reached 99.54%, improved by 0.66% compared to the state-of-the-art method while the inspection missing rate was 0.03%. In addition, the detection time of a single chip was approximately 1.098 ms, which meets the requirements of online detection, and the smallest defect that could be detected was 2 µm. In summary, the methods proposed in this study meet the requirements of industrial online detection regardless of accuracy, efficiency, or extensibility.