A display panel according to an embodiment has a first region and a second region surrounded by the first region. The display panel may include a top substrate, a bottom substrate opposite to the top substrate, and a sealant and a display medium layer disposed between the top substrate and the bottom substrate. The top substrate may include a blanket anti-reflective layer disposed on an upper surface of the top substrate, a patterned light shielding layer disposed in the first region of the display panel, and a packaging structure packing the patterned light shielding layer. The patterned light shielding layer may be in direct contact with an upper surface of the blanket anti-reflective layer.