A liquid crystal display device is constructed such that a liquid crystal layer is sandwiched between an upper substrate, which is provided with upper transparent electrodes for forming pixels, and a lower substrate, which is provided with lower transparent electrodes disposed so as to intersect with the upper transparent electrodes. The liquid crystal panel includes a half reflection layer having a reflection function and a transmission function which is formed on the inner surface of the lower substrate as a lower layer of the lower transparent electrodes; an upper retardation film, an upper polarizing plate, and a light diffusing plate which are laminated on the upper substrate; and a lower retardation film and a lower polarizing plate, which are laminated on the surface of the lower substrate. Due to such a construction, the half reflection type liquid crystal display device is capable of providing an image display of high brightness and high contrast.