Liquid crystal displays (LCDs) will be classified into miniature display, reflective type, projection type, direct view type, and holography type. All of these LCDs will be widely utilized in the coming multimedia network era. Along with this trends, in the first part of this paper we will discuss the social background of this research. In this paper we will place an emphasis on a polymer stabilized (PS) FLCD that is featured by fast response speed (40 µsec), high contrast (230:1) with grayscale, wide viewing angle, and high resolution (4001p/mmn). The PS-FLCD, which is referred to as Liquid Crystal Optical Diode owing to its strong asymmetric electrooptical characteristics, will be a promising technology for displaying a moving video image, and optical computing.