A display device with low manufacturing cost, with low power consumption, capable of being formed over a large substrate, with a high aperture ratio of a pixel, and with high reliability is provided. The display device includes a transistor electrically connected to a light-transmitting pixel electrode and a capacitor. The transistor includes a gate electrode, a gate insulating film over the gate electrode, and a first multilayer film including an oxide semiconductor over the gate insulating film. The capacitor includes the pixel electrode and a conductive electrode formed of a second multilayer film which overlaps with the pixel electrode with a predetermined distance therebetween, and has the same layer structure as the first multilayer film. A channel formation region of the transistor is at least one layer, which is not in contact with the gate insulating film, of the first multilayer film.