An LCD comprises: an upper array substrate and a lower color filter
substrate, which are opposed and spaced a predetermined distance to each
other; a reflective film formed in a matrix on a non-pixel section on the
color filter substrate; a black-matrix formed on the reflective film; red,
green, and blue color filters, formed on pixel sections of the color
filter substrate defined by the black-matrix; a lower orientation film
formed on the whole area of substrates including the color filters and
black-matrix; a pixel electrode formed on the pixel section on the array
substrate; an upper orientation film formed on the whole area of
substrates including the pixel electrode; a liquid crystal layer
interposed between the color filter substrate and the array substrate; a
partially masked lower polarizer mounted outside the color filter
substrate, in which a portion under the non-pixel section does not have
polarization function; and an upper polarizer mounted outside the array
substrate. In the LCD, light absorbed in black-matrix is utilized by
positioning the color filter substrate at a lower portion thereof and
mounting the reflective film under black-matrix. The partially masked
polarizer is used as the lower polarizer so as to minimize optical loss by
black-matrix and polarizer, thus improving optical efficiency.
