A display device includes silver-molybdenum alloy electrodes having high reflectivity despite annealing temperatures. The display may have a first display substrate, a second display substrate and a liquid crystal layer. The first display substrate includes signal-applying modules (e.g., TFTs) disposed on a first substrate each including an output terminal configured to output a data signal, a patterned insulation layer having contact holes that expose the output terminals, and silver-molybdenum alloy electrodes (made of silver and molybdenum) electrically connected to the output terminals. The silver-molybdenum alloy electrode is employed in the display device, thereby increasing reflectivity of the display device and improving display quality of an image displayed by the display device.