A display device and a manufacturing method thereof. The display device includes: an array substrate and a color film substrate which are disposed oppositely each other forming a cell, two-dimensionally arranged sub-pixel regions are correspondingly formed in the array substrate and the color film substrate respectively; wall-shaped electrodes, sandwiched between the array substrate and the color film substrate, the wall-shaped electrodes separate each row or line of the sub-pixels region to form a light ray transmission area and a light ray reflection area; and a liquid crystal layer, sandwiched between the array substrate and the color film substrate, and including liquid crystal in transmission area and liquid crystal in reflection area respectively filled in the light ray transmission area and the light ray reflection area, wherein light rays of the light ray transmission area and the light ray reflection area has the same optical path differences.