A high ambient contrast ratio display device using a transparent OLED or transparent Quantum‐dot LED (QLED) with embedded multilayered structure and absorber is proposed. With the help of the multilayered structure, the device structure allows almost all ambient light to get through the display and be absorbed by the absorber. Because the reflected ambient light is greatly reduced, the ambient contrast ratio of the display system is improved significantly. Meanwhile, the multilayered structure helps lower the effective refractive index, which in turn improves the outcoupling efficiency of the display system. Potential applications for sunlight readable flexible and rollable displays are emphasized.