Fiber optic switches using layers of cholesteric or chiral nematic liquid crystals (CLCs) are disclosed. The CLC layer acts both as a polarization beamsplitter and as a reflector by decomposing incoming unpolarized light into two orthogonal circularly polarized components. In a number of embodiments, switchable waveplates are employed to controllably switch the polarization direction of each of the polarization components. The components are then reflected back toward the CLC layer where they are recombined into a transmitted unpolarized beam. The direction of transmission depends on the circular sense of the polarized components, and therefore on the state of the switchable waveplates. In other embodiments, the CLCs are used actively by selectively exposing them to electric or magnetic fields or to heat which cause a phase change that temporarily neutralizes the circular polarization effect. In this manner, the CLCs can be used as switch elements themselves.