A cost-effective light-emitting diode (LED) current balance strategy using a variable voltage regulator (VVR) with low dropout v DS control is proposed. This can regulate the multiple metal-oxide-semiconductor field-effect transistors (MOSFETs) of the linear current regulators (LCR), maintaining low dropout v DS on the flat v GS -characteristic curves and making all drain currents almost the same. Simple group LCRs respectively loaded with a string LED are employed to implement the theme. The voltage VV dc from a VVR is synthesized by a string LED voltage Nv D , source voltage v R , and a specified low dropout v DS = V Q . The VV dc updates instantly, through the control loop of the master LCR, which means that all slave MOSFETs have almost the same biases on their flat v GS -characteristic curves. This leads to all of the string LED currents being equal to each other, producing an almost even luminance. An experimental setup with microchip control is built to verify the estimations. Experimental results show that the luminance of all of the string LEDs are almost equal to one another, with a maximum deviation below 1% during a wide dimming range, while keeping all v DS of the MOSFETs at a low dropout voltage, as expected.