An electronic device may be provided with a display such as a liquid crystal display. The liquid crystal display may have a color filter layer, a thin-film-transistor layer, and a layer of liquid crystal material between the color filter layer and the thin-film-transistor layer. A lower polarizer may be formed under the thin-film-transistor layer. An upper polarizer may be formed on the color filter layer. A shielding antireflection layer may be formed on the upper polarizer. The shielding antireflection layer may serve both as a shielding layer that protects against display damage due to electrostatic charge and as an antireflection coating that helps to minimize reflections from the surface of the display. The shielding antireflection layer may include low and high index of refraction layers and a conductive layer such as a transparent conductive oxide layer that provides shielding.