A display device includes a display panel and an impact resistance layer. The display panel includes a first display area, a second display area, a first folding display area between the first display area and the second display area, a third display area, and a second folding display area between the second display area and the third display area. The first folding display area is out-foldable such that the first display area is faces outside the display device. The impact resistance layer includes a first portion corresponding to the first display area, the first folding display area and the second display area and a second portion corresponding to the second display area, the second folding display area, and the third display area. The first portion has an elastic modulus greater than the second portion.