A display panel includes: a first display area including display element groups in which first light-emitting diodes are arranged and a transmission area; a second display area surrounding at least a portion of the first display area and having second light-emitting diodes arranged therein; and a first light-shielding insulating layer on the first display area and defining an emission area of the first light-emitting diodes, wherein the first light-shielding insulating layer has an isolated pattern in a plan view.