A series of partially conjugated polymers containing terphenylene linked by vinylene units were synthesized by Wittig condensation polymerization of the appropriate diphosphonium salts and the dialdehyde monomer. meta‐Phenylene, para‐phenylene, 1,3,4‐oxadiazole‐2,5‐diyl‐1,4‐phenylene, 2,5‐dimethoxy‐1,4‐phenylene and 9,10‐anthrylene units were incorporated into the vinylene blocks to control the band gaps. The effect of molecular architecture on optoelectronic and thermal properties of the polymers was investigated. The emission of the copolymers can be tuned by changing the nature of the vinylene blocks to show violet, blue, green and green‐yellow. Double‐layer LEDs with ITO/PEDOT/polymer/Ca/Al structures were fabricated and, in parallel with the photoluminescence results, the change of emission color was also shown in the electroluminescence spectra.