A phase shifter includes a substrate, a signal transmission structure disposed on the substrate, and a phase adjustment structure disposed on the substrate. The phase adjustment structure includes a conductive structure, at least one semiconductor structure disposed between the signal transmission structure and the conductive structure, a first insulating layer disposed between the conductive structure and the at least one semiconductor structure, and at least one first bias voltage line electrically connected to the conductive structure. Orthogonal projections, on the substrate, of the signal transmission structure, the conductive structure and the at least one semiconductor structure overlap with one another. An orthogonal projection, on the substrate, of the first insulating layer is located at least in a region in which the orthogonal projections, on the substrate, of the conductive structure and the at least one semiconductor structure overlap.