A display apparatus includes a light source and a display panel. The light source emits a light. The display panel includes a first polarizing plate, a second polarizing plate, a third polarizing plate, and a shutter. The first polarizing plate receives the light provided from the light source and incident to a lower portion thereof and linearly polarizes the light incident thereto. The second polarizing plate is disposed on the first polarizing plate and circularly polarizes the light exiting through the first polarizing plate. The third polarizing plate is disposed on the second polarizing plate and linearly polarizes the light incident thereto. The shutter is disposed on the first polarizing plate and mechanically deforms in a thickness direction of the first polarizing plate in response to an electrical signal. The display apparatus displays a grayscale in accordance with mechanical deformation of the shutter.