A novel display device suitable as a portable display device is disclosed. The device includes a pair of substrates and a light modulation layer sandwiched between the substrates. A functional gel is adapted to be deformed by an electric field applied between a pair of electrodes interposed between the substrates, thereby regulating the light incident on the light modulation layer. A high contrast, a high reflectance and a high light utilization are achieved without regard to the angle of visibility.
