A display element (10) comprises a light modulating layer (40) for absorbing light in a colour waveband, and a reflector layer (16), substantially parallel to the light modulating layer (40), for selectively reflecting light in the colour waveband, and transmitting at least some non-reflected light. One of the light modulating layer (40) and the reflector layer (16) is fixed and the other of the light modulating layer (40) and the reflector layer (16) is movable. The relative positions of the light modulating layer (40) and the reflector layer (16) can be interchanged. In a first state of the display element (10) the light modulating layer (40) is in front of the reflector layer (16) in an incident light path so as to absorb incident light in the colour waveband. In a second state of the display element (10) the reflector layer (16) is in front of the light modulating layer (40) in the incident light path so as to reflect incident light in the colour waveband.