A display device and a driving method thereof are provided. The display device has a display panel and a field-sequential backlight module arranged opposite to the display panel. The display panel includes a light incident surface and a light exit surface arranged at a same side of the display panel. The field-sequential backlight module is disposed at a side of the display panel close to the light exit surface, and includes a plurality of light sources of at least three different colors. The display panel include a first substrate, a second substrate disposed opposite to the first substrate, and a liquid crystal layer sandwiched between the first substrate and the second substrate. The liquid crystal layer is configured to enable the display device to switch between an opaque or translucent state and a transparent state, without introducing any polarizers to the display device.