Provided in the embodiments of the present disclosure are a display device and a display terminal. The display device includes a light emitting panel and at least one optical modulation unit provided on a light exit side of the light emitting panel, a grating layer being provided in the light emitting panel, or between the light emitting panel and the optical modulation unit, wherein the optical modulation unit is configured to modulate incident light to exit at a certain preset angle, and the grating layer is configured to parallelize exit directions of incident light.