To acquire a fine viewing angle property from oblique view fields in a lateral electric field type liquid crystal display device having liquid crystal initial alignment directions in two orthogonal directions. The absorption axis of the incident-side polarization plate and the absorption axis of the exit-side polarization plate are orthogonal to each other in both of the region I and the region II, and the liquid crystal layer, the in-cell retarder as an optical compensation layer, the A-plate, and the C-plate sandwiched therebetween are in parallel to either one of the absorption axes or orthogonal to the substrates. Therefore, the transmittance can be suppressed to be low and a fine black display can be acquired even when the display surface is viewed from the oblique view fields.